BusinessAI imageIndia's UPI Introduces Fees on Large Merchant Payments Above ₹2,000
India's Unified Payments Interface (UPI) has ended its free transaction era by introducing a 0.4% Merchant Discount Rate (MDR) fee on person-to-merchant payments exceeding ₹2,000. Small merchants and person-to-person transfers remain exempt. The Finance Ministry's notification has sparked debate, with critics like Ashneer Grover opposing the charge, arguing UPI could have remained free.
Reuters·


