No Charges on UPI Transactions
New Delhi: Finance Minister Nirmala Sitharaman clarified in the Rajya Sabha on Monday regarding apprehensions that charges might be levied on transactions made via Unified Payments Interface (UPI) platforms like RuPay, Google Pay, and PhonePe. She stated that no charges would be collected from consumers using these services. She mentioned that there is a possibility of levying a Merchant Discount Rate (MDR) on certain types of transactions in the future. She added that this has not yet been finalized and a notification would be issued later.
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