Finance Ministry says UPI stays free as MDR proposal is reviewed
In short
The Finance Ministry says UPI will stay free for users even as it looks at a new 0.4% MDR on merchant payments above ₹2,000. The proposal may also affect RuPay credit cards and cashback.
What the reporting says
The Finance Ministry said UPI will stay free for users as it reviews a proposal for a 0.4% MDR on merchant payments above ₹2,000. Economic Times Wealth said the proposal also has implications for RuPay credit cards and cashback.
Why it matters
The Finance Ministry said UPI remains free for users while it examines a proposed 0.4% MDR on merchant payments above ₹2,000. Economic Times Wealth reported that the proposal could also affect RuPay credit cards and cashback.