No MDR charges applicable on payment via RuPay, UPI from Jan 1: Sitharaman

All companies with a turnover of Rs 50 crore or more will be mandated by DoR to provide the facility of payment through RuPay Debit card and UPI QR code to their customers. MDR is the cost paid by a merchant to a bank for accepting payment from their customers via digital means. The merchant discount rate is expressed in percentage of the transaction amount.

from Banking/Finance-Industry-Economic Times https://ift.tt/363DIEh