Government proposes amendments to revive merchant discount rate on UPI transactions
Auf einen Blick
Proposed amendments to the Payment and Settlement Systems Act aim to bring back merchant discount rate on select UPI transactions, potentially helping banks and fintech firms recover technology and cybersecurity investments, ET first reported on July 16.
KI-generierte Zusammenfassung
Warum es wichtig ist
Government is considering amendments to the Payment and Settlement Systems Act to reintroduce merchant discount rate on select UPI transactions.
The government's proposed amendments to the Payment and Settlement Systems Act have revived hopes of the return of merchant discount rate (MDR) on select UPI transactions, with industry executives and analysts saying the move could help banks and fintech firms recover rising investments in technology, cybersecurity and payments infrastructure.ET was the first to report on July 16 that the government is considering reintroducing MDR for UPI
Offene Fragen
- What specific transactions will be eligible for MDR?
- When will the amendments be finalized?
