India, Aug. 6 -- Lok Sabha Passes Bill Paving Way for UPI Charges: Today, on August 6, the Lok Sabha has approved an amendment that could give the government the power to levy fees on selected transactions utilising UPI and other types of electronic payment in the times to come. The Bill does not impose any charges immediately. Instead, it empowers the Central Government to determine which payments may stay free and which ones will entail a Merchant Discount Rate (MDR) via further announcements.

Lok Sabha Passes Bill Paving Way for UPI Charges: What has changed under the new Bill?

The bill modifies the Payment and Settlement Systems Act of 2007. The law did not allow banks and payment service companies to levy the merchant discount on s...