Mdr
Latest news, explainers and analysis on Mdr. Tracking 10 stories on Arth Vani.
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Latest on Mdr
BreakingMDR on UPI Transactions Over ₹2,000 Deferred Until After Diwali
The Merchant Discount Rate (MDR) on UPI transactions exceeding ₹2,000 has been deferred, meaning merchants will not be charged this fee for now. This decision provides a temporary reprieve for businesses and consumers, with the potential charges set to come into effect only after the Diwali festival, as reported by The Economic Times.
BreakingFintech Platforms May Retain Service Fees Despite UPI Zero-MDR Directive
Indian fintech platforms are expected to continue levying certain "platform fees" for value-added services, a practice distinct from the National Payments Corporation of India's (NPCI) directive for zero Merchant Discount Rate (MDR) on UPI transactions. This means that while core UPI payments remain free for users, charges may still apply for specific conveniences offered by these payment applications.
BreakingFinance Ministry to Consult Banks, Traders on New MDR Charges Over ₹2,000
The Ministry of Finance will meet with the Indian Banks Association and traders' organizations to discuss the new Merchant Discount Rate (MDR) levy. This levy applies to digital transactions exceeding ₹2,000, effective from October 15, and aims to address concerns and shield consumers from additional costs.
BreakingNPCI Clarifies: GST on MDR Not Extra Burden for Merchants, Can Be Adjusted Against Tax
The National Payments Corporation of India (NPCI) has clarified that the Goods and Services Tax (GST) charged on Merchant Discount Rate (MDR) will not impose an additional financial burden on businesses. Merchants can claim this GST amount as Input Tax Credit (ITC), effectively adjusting it against their overall tax liabilities. This move aims to alleviate concerns among businesses regarding the cost implications of digital transactions.
BreakingGovernment May End UPI Subsidies as MDR Revenue Strengthens: The Economic Times
The Indian government is reportedly considering withdrawing its subsidies for Unified Payments Interface (UPI) transactions, according to a report by The Economic Times. This potential shift comes as the revenue generated from Merchant Discount Rate (MDR) for UPI payments is reportedly gaining traction, suggesting UPI's increased financial self-sufficiency.
RBI DG Murmu: MDR Concerns Unlikely to Drive Indians Back to Cash
Reserve Bank of India (RBI) Deputy Governor Shirish Chandra Murmu has stated that concerns over Merchant Discount Rate (MDR) are not expected to increase the use of physical cash in India. This indicates the central bank's confidence in the continued adoption of digital payments despite existing apprehensions.
BreakingUPI Remains Free for Consumers and Small Merchants, Government Clarifies
The Indian government has confirmed that using UPI will continue to be free for consumers and small merchants. Potential Merchant Discount Rate (MDR) charges may only apply to a select category of transactions exceeding a certain threshold, which is yet to be specified.
BreakingUPI Payments Remain Free for Users; Select Merchant Transactions May See Nominal MDR
The government has confirmed that UPI payments will continue to be free for Indian consumers. While most merchant transactions will also remain free, a nominal Merchant Discount Rate (MDR) may be introduced for a limited number of high-value merchant transactions in the future.
New LaunchBreakingGovernment May Reintroduce UPI Charges for Large Merchant Transactions Over ₹2,000
The Indian government is considering reintroducing Merchant Discount Rate (MDR) for UPI transactions made to large merchants, specifically those exceeding ₹2,000. This move, part of proposed amendments to the Payment and Settlement Systems Act, aims to help banks and fintech firms recover technology and infrastructure investments in the digital payments ecosystem.
New LaunchBreakingUPI Transaction Fees: Merchant Discount Rate (MDR) Debate Reignites
After nearly six years of zero-cost transactions, the debate around introducing Merchant Discount Rate (MDR) for UPI payments is back on the table. This could potentially impact transaction costs for merchants and, indirectly, consumers.
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