Government Says Fear of Cash Shift Due to UPI Merchant Fee Is Misplaced

Government sources have stated that fears of consumers shifting to cash payments due to the introduction of merchant fees on UPI transactions are completely unfounded. Finance Minister Nirmala Sitharaman clarified that the merchant discount rate (MDR) on UPI will not be passed on to consumers. The proposed merchant fee is expected to raise less than Rs 21,000 crore and will not affect transaction data advantages held by banks.

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