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FM says MDR on UPI applies to merchants, not customers; fintechs, banks will invest more on security - The Economic Times
Finance Minister Nirmala Sitharaman stated Merchant Discount Rate applies to merchants, not customers. This charge will support banks and fintech companies in infrastructure investment. A committee will decide on MDR after Parliament passes a taxation bill. The bill provides legal backing to modify the zero-MDR framework for digital payments. This move aims to ensure UPI and RuPay card transactions remain financially sustainable.
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Nirmala Sitharaman Rejects Jairam Ramesh's UPI Charge Claims, Says MDR Applies Only To Merchants
https://www.freepressjournal.in/india/nirmala-sitharaman-rejects-jairam-rameshs-upi-charge-claims-says-mdr-applies-only-to-merchants
Nirmala Sitharaman Clarifies MDR For Digital Transactions And UPI - Rediff.com Business
https://www.rediff.com/business/report/fm-upi-mdr-for-merchants-funds-infrastructure-security/20260806.htm
MDR on UPI will hit businesses, not users: FM Nirmala Sitharaman hits back at Congress' Jairam Ramesh - The Economic Times
https://economictimes.indiatimes.com/tech/technology/mdr-on-upi-will-hit-businesses-not-users-fm-nirmala-sitharaman-hits-back-at-congress-jairam-ramesh/articleshow/133015017.cmsProposed UPI MDR changes spark reactions from politicians, Industry leaders and users - The Economic Times
https://economictimes.indiatimes.com/tech/technology/proposed-upi-mdr-changes-spark-reactions-from-politicians-industry-leaders-and-users/articleshow/133022951.cms
Upi Transactions: Will you have to pay to use UPI? FM Sitharaman clarifies who bears MDR - The Times of India
https://timesofindia.indiatimes.com/business/india-business/will-you-have-to-pay-to-use-upi-fm-sitharaman-clarifies-who-bears-mdr/articleshow/133020388.cms