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The specific proposal was neither placed before nor endorsed by the panel, party leaders say; members had also raised concerns over the need and efficacy of the Merchant Discount Rate during the parliamentary panelโs deliberations, Congress leader Manish Tewari says
Ending nearly six years of fully free UPI payments, the government on September 15 introduced a 0.4% fee on transfers worth more than $2,000 made to merchants through UPI from October 15
What is the new UPI MDR system? Who will have to pay the charges? Which transactions will remain free? How much could banks and payment platforms earn?
Jairam Ramesh asked whether the government's move on MDR was done to enable U.S. card companies to compete with UPI
In a post in Hindi on X, Rahul Gandhi alleged that the Modi government has quietly paved the way for imposing fees on UPI
Visa Group India & South Asia Country Manager Suresh Sethi unpacks Indiaโs evolving financial inclusion story in the age of Unified Payments Interface. He discusses Visaโs growth priorities, its strategy to keep cards relevant, and how partnerships and Indiaโs digital public infrastructure could reshape the payments landscape. He speaks with Haslinda Amin from the sidelines of 'Global Fintech Festival Mumbai'. (Source: Bloomberg)