నిమిషం•Politics•16 సెప్టెం
ETtech Explainer: Who pays MDR on UPI and who does not
Starting on October 15, banks and payment applications will begin earning revenue from select merchant UPI transactions. Transactions under Rs 2000 will remain exempt from new fees, while person-to-person transfers and small vendor payments under Rs 1 lakh are still free. Merchants will incur a charge of up to forty basis points for transactions over Rs 2000.