PolicyMediaNamaabout 2 hours ago
NPCI Tells Supreme Court UPI Fees Cannot Pass
4 min read
The National Payments Corporation of India told the Supreme Court that its new Merchant Discount Rate on UPI payments is lawful. NPCI stated merchants cannot pass charges to customers. The fee applies only to person-to-merchant transactions exceeding Rs 2,000, capped at 0.4%. Implementation was postponed from October 15.
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