MDR on UPI payments above Rs 2,000 will not be passed on to consumers: Govt sources

The proposed 0.4% merchant fee on UPI transactions above Rs 2,000 will not be passed on to consumers, government sources said on Thursday. Effective October 15, a 0.4% merchant discount rate will be levied on merchants for UPI transactions over Rs 2,000. However, no charge will be levied on person-to-person transactions regardless of the amount.