No need to pay UPI charges till Diwali celebrations
India's central payments regulator has decided to postpone the implementation of a new merchant discount rate (MDR) on UPI transactions until after Diwali. This decision was made by the UPI and Services Steering Committee on Tuesday, giving businesses and payment firms time to prepare for the first pricing change on the digital network that has revolutionized transactions in a country primarily reliant on physical cash.
The NPCI will announce the exact start date later, but it will be implemented immediately after Diwali, which falls on November 8. Initially, the MDR was set to take effect from October 15.
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