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NPCI to implement MDR on select UPI merchant transactions after Diwali
PANAJI: The National Payments Corporation of India (NPCI) has postponed the implementation of the proposed Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions until after Diwali. The exact date of implementation will be announced separately.The decision was taken by the UPI and Services Steering Committee on Tuesda, October 13, ke
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New UPI framework: 0.4% MDR on specified merchant payments above Rs 2,000
PANAJI: The National Payments Corporation of India (NPCI) has introduced a new Merchant Discount Rate (MDR) framework under which a 0.4% charge will apply to specified person-to-merchant (P2M) UPI transactions above Rs 2,000 from October 15.The Ministry of Finance clarified that the framework will not affect person-to-person (P2P) transactions. UPI...
