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Asia

No decision yet on merchant discount rate on UPI deals

Markets-Economic Times · 7h ago · 🇮🇳 India

No decision yet on merchant discount rate on UPI deals

Central bank governor Sanjay Malhotra stated it is premature to discuss UPI transaction charges. Discussions are ongoing regarding the payment mechanism's future and costs. The government is reportedly amending laws to allow merchant discount rates on select UPI transactions. This move follows Finance Minister Nirmala Sitharaman's introduction of a new bill. The central bank's current focus remains on strengthening UPI adoption across India.

Read the full story at Markets-Economic Times →

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