Lok Sabha clears Bill granting government authority over UPI transaction fees
The Lok Sabha has approved an amendment to the Payment and Settlement Systems (PSS) Act of 2007. This change empowers the central government to determine which digital payment methods will be free from the Merchant Discount Rate (MDR). This move potentially opens the door for future MDR charges on UPI payments. The MDR is essentially a fee that merchants pay to banks and payment processors to handle digital transactions.
by shortkt.com✓