Government Mandates Zero Charges on UPI Transactions Under Rs 2,000

The Centre has notified that banks and payment system providers cannot impose merchant discount rates (MDR) on UPI transactions of up to Rs 2,000 or RuPay debit card payments at that threshold. Builders in the payment rails space need to recalibrate unit economics and watch for MDR reintroduction on high-value UPI—this sets a floor on where interchange wars can go.

Source: Entrackr ↗