UPI MDR Decision Completely Professional, No External Pressure: FM Sitharaman

UPI MDR decision completely professional, no external pressure: FM Sitharaman

Sitharaman rubbished the Opposition's allegations that the government had yielded to foreign pressure, saying the MDR was not a tax and would not accrue to the government

Proposed UPI MDR not a tax, cess or surcharge: FM

New Delhi: The proposed Merchant Discount Rate (MDR) on select high-value UPI transactions is neither a tax, cess nor a surcharge, and the collections will not accrue to the government, Finance Minister Nirmala Sitharaman said, rejecting criticism from Opposition parties. The Finance Minister said the MDR is a charge within the digital payments ecosystem and … Get the latest updates in Hyderabad City News, Technology, Entertainment, Sports, Poli…

Merchant Discount Rate on UPI not a tax, cess or surcharge; will not burden consumers: FM

The Finance Minister assured that the MDR will not be passed on to consumers and will be borne within the merchant payment ecosystem.

‘Not a government issue’: FM Sitharaman explains where UPI MDR charge goes

Nirmala Sitharaman clarified that there will be no Merchant Discount Rate (MDR) charged by the government on UPI transactions. She reassured consumers that for transactions over Rs 2,000, the MDR will be covered by merchants and banks. According to NPCI’s Dilip Asbe, a significant 75 percent of UPI transactions remain unaffected by MDR. Most fees originate from larger businesses that incur higher credit card charges.