New Delhi, Sept. 15 -- The National Payments Council of India (NPCI) today announced merchant discount rate (MDR) on select UPI (person to merchant) transactions.

In a statement released on 15 September, the NPCI said a revised UPI Merchant Discount Rate (MDR) framework has been introduced on select merchant transactions.

It keeps UPI free for consumers. The framework keeps 95% of low value UPI transactions below Rs. 2,000 and small merchant transactions (P2PM) completely free and proposes a new fund to support the expansion of UPI acceptance among small merchants.

The initiative will expand UPI acceptance, encourage sustained usage, and accelerate the inclusion of small businesses in India's digital payments ecosystem.

The reasonable...