India, Aug. 8 -- The Government of India has issued a release:
No charges for users: Consumers making payments will not face any transaction charges.
P2P transactions free: All Person-to-Person transactions will continue to be free of charge.
Nominal MDR for merchants: As and when MDR charges are introduced, they will apply only to a limited set of merchant transactions, above a certain threshold, at a nominal rate, far lower than debit or credit card MDRs.
Vast majority of the transactions will remain free of charge for merchants on UPI. MDR, if introduced, will only be threshold based and not blanketly levied to all.
Once the Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026, which proposes to amend Section 10A of ...