India paves way for return of merchant fees on UPI; what it means

Merchant Discount Rate (MDR) is the fee merchants pay to banks and payment service providers for processing digital transactions. In India, credit card payments generally attract an MDR of around 1.5%.

NEW DELHI/MUMBAI, Aug 4 : India has moved a step closer to reintroducing merchant fees on transactions made through its popular Unified Payments Interface (UPI) after proposed changes to the country's payments laws were introduced in parliament on Tuesday. UPI, one of the world's largest real-time payments networks, pr