UPI users alert! Charges on high-value transactions may be around the corner
India, Aug. 5 -- The Union government may soon introduce merchant charges on Unified Payments Interface (UPI) transactions above Rs.2,000, according to media reports, potentially ending the zero-cost regime for merchants on high-value digital payments.
The reports come amid speculation that the government is considering reintroducing the Merchant Discount Rate (MDR) on select UPI transactions.
Responding to a question on the possibility of levying charges on UPI payments, Reserve Bank of India (RBI) Governor Sanjay Malhotra said it was too early to comment on the matter.
"It is very premature to talk right now. The government is still carrying out the amendment. The costs have to be paid by someone. We all want this public infrastructu...
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