Finclusion
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Paytm
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Finclusion
No Result
View All Result
The Ministry of Finance has firmly denied speculation suggesting that Merchant Discount Rate (MDR) will be levied on UPI transactions. (Image source: Freepik)

The Ministry of Finance has firmly denied speculation suggesting that Merchant Discount Rate (MDR) will be levied on UPI transactions. (Image source: Freepik)

Government Dismisses MDR Rumours on UPI Transactions as ‘False and Baseless’

June 16, 2025
in Fact Check, Fintech
410 12
0
Share on FacebookShare on Twitter

The Ministry of Finance has firmly denied speculation suggesting that Merchant Discount Rate (MDR) will be levied on Unified Payments Interface (UPI) transactions. In a statement released via X (formerly Twitter), the ministry called the rumours “completely false, baseless, and misleading.”

The clarification comes amid circulating claims on social media and messaging platforms that UPI payments may soon attract MDR—a fee traditionally applied to card-based transactions and typically paid by merchants. The ministry warned that such “sensation-creating speculation” causes unnecessary fear and confusion among citizens, and emphasized that there is no change in the government’s policy.

You might also like

President Diaz-Canel expressed Cuba’s keen interest in India’s Unified Payments Interface (UPI) and its wider Digital Public Infrastructure (DPI). (Image Source: PM Narendra Modi on X)

BRICS Summit 2025: Cuba Shows Interest in India’s UPI as PM Narendra Modi, President Diaz-Canel Meet

July 7, 2025
By integrating this indicator, banks and payment platforms will be able to identify risky mobile numbers in real time. (Image source: @UPI_NPCI)

RBI Advises Banks to Adopt DoT’s Fraud Risk Indicator to Curb Cyber Fraud

July 3, 2025

“Speculation and claims that the MDR will be charged on UPI transactions are completely false, baseless, and misleading. Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens,” the ministry tweeted.

“The Government remains fully committed to promoting digital payments via UPI,” the post further read, reinforcing India’s long-standing position of zero-cost digital payments for consumers.

UPI transactions, which have become a core part of daily commerce in India—from small roadside vendors to large retailers—currently do not attract any charges for customers or small businesses. UPI has emerged as one of the most successful digital payment systems globally, processing over 18 billion transactions in May 2025 as per recent data from the National Payments Corporation of India (NPCI). It plays a central role in driving financial inclusion and reducing cash dependency.

The Government of India, in coordination with the RBI and NPCI, has consistently supported the zero-MDR regime for UPI and RuPay debit cards to encourage widespread adoption, especially among micro and small merchants.

Tags: digital paymentsFintechMDRMinistry of Financemobile paymentsUPIUPI Transactions

Related Stories

President Diaz-Canel expressed Cuba’s keen interest in India’s Unified Payments Interface (UPI) and its wider Digital Public Infrastructure (DPI). (Image Source: PM Narendra Modi on X)

BRICS Summit 2025: Cuba Shows Interest in India’s UPI as PM Narendra Modi, President Diaz-Canel Meet

by Finclusion
July 7, 2025
0

On the sidelines of the 17th BRICS Summit in Rio de Janeiro, Prime Minister Narendra Modi held talks with President...

By integrating this indicator, banks and payment platforms will be able to identify risky mobile numbers in real time. (Image source: @UPI_NPCI)

RBI Advises Banks to Adopt DoT’s Fraud Risk Indicator to Curb Cyber Fraud

by Finclusion
July 3, 2025
0

In a major step towards strengthening cybersecurity in banking, the Reserve Bank of India (RBI) has directed all Scheduled Commercial...

June's daily average was equally impressive, with 613 million transactions per day and a daily average value of ₹80,131 crore. (Image source: Freepik)

India’s UPI Crosses 18.4 Billion Transactions in June 2025

by Finclusion
July 1, 2025
0

India’s digital payment ecosystem continues to grow rapidly with UPI (Unified Payments Interface) recording 18.40 billion transactions worth ₹24.04 lakh...

During her visit to Seville, Spain, the Finance Minister will address the 4th International Conference on Financing for Development (FFD4) organised by the United Nations. (Image source: PIB)

Finance Minister Nirmala Sitharaman to Address 4th International Conference on Financing for Development organised by United Nations

by Finclusion
June 30, 2025
0

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has begun an official visit to Spain, Portugal, and Brazil from...

Next Post
TRAI observed that many complaints about spam are linked to businesses that claim to have customer consent.(Image by Storyset on Freepik)

TRAI Teams Up with RBI and Banks to Launch Pilot Project for Digital Consent Management

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finclusion

© 2024 Finclusion

Quick Links

  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog

© 2024 Finclusion

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version