Sitharaman Rejects UPI MDR Misconception, Says Merchant Charge Will Not Be Passed to Consumers
Finance Minister Nirmala Sitharaman has moved to calm concerns over the Merchant Discount Rate on higher-value UPI payments, saying the charge is borne by merchants and will not be transferred to consumers. She stressed that the levy is not a tax, cess or surcharge, but a transaction fee applied in limited cases at a rate of 0.4% on certain UPI payments above Rs 2,000.
