If you do UPI transactions then there is a big update. The government is considering imposing merchant fees on the payment from UPI and RuPay Debit Card. Right now whenever a customer pays with UPI or RuPay Debit Card, Businesses do not have to pay any fees. However, it has not always been so. Before 2022, merchants used to pay a minor fee to banks to process these transactions. & Nbsp;
Will it affect customers?
If the government again implements this fee, then it will not have a direct impact on customers. No charge will be taken from customers for payment. According to media reports, a proposal has been sent to the government in this direction on behalf of the banks and the concerned department is considering it with a positive attitude. Currently, big businesses pay MDR on the payment of master cards, visas and credit cards. Banks believe that this fee should also be charged on payment from UPI and RuPay cards.
This rule was before 2022
UPI’s more than two -thirds stake in digital transactions
UPI’s stake in the total digital payment to be held in the country is more than the third. According to an RBI report, UPI stake in digital payment in 2019 was 34 percent, which has now increased from double to 83 percent. That is, 83 percent of the digital payment in the country is from UPI. In the remaining 17 percent, all the transactions occur through NEFT, RTGS, IMPS, Credit and Debit Card. In the month of January, a transaction of Rs 23.48 lakh crore was seen from UPI across the country. This is the largest figure of UPI transactions in any month so far. & Nbsp;
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