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

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

Sunday, December 29, 2019, 4:01 PM

Finance Minister Nirmala Sitharaman said that from 1 January, 2020, businesses with annual turnover of more than Rs.50 crore will have to offer low cost digital payment options to customers and MDR will not be levied on either customers or merchants. Low cost digital payment modes will include options such as BHIM UPI, UPI QR Code, Aadhaar Pay, Debit Cards, NEFT, RTGS, among others.
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