New Delhi:
The Supreme Court is scheduled to hear on Monday a plea challenging the Centre’s decision to impose a Merchant Discount Rate (MDR) on specified UPI person-to-merchant transactions above ₹2,000. The proposed charge marks a significant change in the current UPI payment framework.
According to reports, the government has introduced a 0.4% fee on specified merchant transactions above ₹2,000 through UPI, ending a period in which such payments had remained free of MDR. The issue has implications for merchants and the broader digital payments ecosystem.
The Supreme Court hearing is expected to examine the legal challenge to the imposition of the charge. The outcome could have implications for how higher-value UPI merchant transactions are processed and charged in the future.