Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edge
India's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI transactions. This move aims to foster domestic competition and create a sustainable revenue model. Small merchants and certain transactions will remain exempt from the new charges. The government emphasizes protecting India's electronic payment ecosystem…
We haven't written up this one. The Economic Times - Economy has the full story — the link below goes straight to it.
