New Delhi, Sept. 16 -- The National Payments Council of India (NPCI) has announced merchant discount rate (MDR) on select UPI transactions conducted from person to merchant, effective from October 15.

The revised framework, published on its official website on Tuesday, has kept 95% of low-value UPI transactions below Rs.2,000 and small merchant transactions (P2PM) completely free.

While the clarification that consumers would continue to use UPI free of charge had already been issued last month by the Union Finance Minister Nirmala Sitharaman, some confusion persisted. The latest framework reiterates that consumers will transact free-of-cost using UPI, as they have been doing till now.

"Consumers making payments through UPI will not fac...