Banks Cannot Impose Charges on UPI Payments of up to Rs 2,000, Govt Says

Zero charges on person-to-person transactions: New UPI rules keep all P2P payments 100% free regardless of amount

NEW DELHI: In a major policy announcement aimed at safeguarding everyday digital transactions, the government has clarified that all Person-to-Person (P2P) UPI transfers will remain entirely free of charges, without any restrictions on payment amounts, according to the Ministry of Finance press release. Under a newly structured framework introduced under the Payment and Settlement Systems Act, 2007, approximately 96 per cent of Person-to-Merchan…

UPI Payments Above ₹2,000: What Changes From October 15?

From October 15, merchants will pay MDR on select UPI transactions above ₹2,000, while consumers and small merchants remain exempt

Centre introduces 0.4% MDR on UPI payments above ₹2,000 made to merchants

From October 15, a 0.4% merchant discount rate applies to UPI person-to-merchant payments over 2,000, with consumers unaffected; person-to-person.UPI charges, merchant discount rate, UPI payment changes, new UPI fees, digital payment updates, person-to-merchant payments, finance ministry UPI, NPCI transaction fees, UPI infrastructure investment, digital investing costs, essential sector payments, utility bill payments UPI, educational fee paymen…

UPI MDR: What changes for merchants, consumers and payments above Rs 2,000 from October 15

From October 15, higher-value merchant payments will attract a capped fee, while P2P transfers, small-value purchases and eligible small merchants retain zero M

India ends free ride for larger transactions on its ubiquitous digital payments network

India will impose a 0.4% merchant fee on certain payments made through UPI starting October 15.

UPI transactions above Rs 2,000 to attract 0.4% MDR, capped at Rs 300

UPI transactions above Rs 2,000 will attract a Merchant Discount Rate (MDR) of 0.4 per cent under a revised framework introduced by the National Payments Corporation of India (NPCI), while consumers will continue to transact free of cost using UPI.