merchant discount rate (MDR)

Payments body writes to PM Modi, seeks MDR on UPI for large merchants and RuPay debit cards – The Times of India

polite3 days ago03 mins

MUMBAI: The Payments Council of India (PCI) which represents digital payments companies has written to Prime Minister Narendra Modi, seeking introduction of merchant discount rate (MDR) on UPI transactions and RuPay debit cards. The industry body has sought an MDR of 0.3% on UPI transactions only for large merchants and a nominal MDR on RuPay…

Cabinet okays 1,500 crore incentives to boost UPI – The Times of India

polite1 week ago03 mins

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the incentive scheme for low-value BHIM-UPI transactions with an estimated outlay of Rs 1,500 crore. MUMBAI: The Union cabinet on Wednesday approved an incentive scheme to promote low-value BHIM-UPI transactions, focusing on payments made to merchants. The Rs 1,500 crore initiative, running from…