UPI tax is known for being a fee imposed on Unified Payments Interface (UPI) transactions exceeding ₹2,000. This fee is a part of the government’s efforts to promote digital payments and encourage financial inclusion. The introduction of this fee has sparked debate about its impact on the sustainability of UPI transactions and whether it is … Read more
MDR on person-to-merchant UPI payments above Rs 2,000 is in the news because the Reserve Bank of India (RBI) has introduced a new rule that affects these transactions. According to the RBI, merchants will be charged a Merchant Discount Rate (MDR) of 0.4% for UPI transactions above Rs 2,000. This change aims to reduce the … Read more
UPI charges above Rs 2,000 for merchants will be decided by a panel. This decision is a significant development in the realm of digital payments in India. The panel’s role is to determine the charges that merchants will have to pay for transactions exceeding Rs 2,000 using the Unified Payments Interface (UPI). The UPI system … Read more
UPI payment is known for automating transactions to enable spend tracking. According to Livemint, it offers several lesser-known perks. One such perk is the ability to automate transactions, which simplifies the process of managing finances. This feature allows users to set up recurring payments for regular expenses, such as utility bills or rent. Another lesser-known … Read more