New Delhi, Aug. 9 -- The government has clarified that consumers will continue to make payments through the Unified Payments Interface (UPI) without paying any transaction fee, amid speculation over a possible introduction of charges on digital payments.
The Ministry of Finance said peer-to-peer (P2P) UPI transfers will remain free. It also clarified that if a merchant discount rate (MDR) is introduced in the future, it would be applicable only to a limited category of merchant transactions crossing a specified threshold.
According to the government, any such MDR would be nominal and significantly lower than the charges typically associated with credit and debit card transactions. The framework for introducing the charge, including the ap...