Authorities confirmed that zero merchant transaction fees will remain intact for retail Unified Payments Interface transfers.
Tag: digital payments
Apple officially launches Apple Pay in India with Axis Bank Visa and Mastercard credit cards
Apple expands its payments ecosystem into India, enabling tap-and-pay contactless transactions across iOS and watchOS devices.
Supreme Court refuses to stay government decision imposing 0.4% MDR on UPI payments above ₹2,000
Judicial benches dismissed interim stay petitions challenging Merchant Discount Rates on higher-ticket digital merchant transactions.
Saharanpur traders demand rollback of 0.4% fee on UPI merchant payments
Local retail and merchant associations in Uttar Pradesh staged demonstrations against new transaction processing fees levied on digital payments.
Fact Check: Finance Ministry refutes reports claiming UPI transactions will face direct consumer fees
Official clarifications confirmed the 18% GST applies only on commercial merchant discount rates, not peer-to-peer user payments.
Finance Ministry sources confirm 18% GST on UPI Merchant Discount Rate is eligible for input credit
Tax authorities clarified that merchant discount charges qualify for full input tax offset to protect business margins.
dtcpay Adopts Bloombergs B-PIPE for Treasury Foreign Exchange Trading Operations
Singapore payment firm dtcpay integrated real-time Bloomberg FX market data feeds to strengthen cost controls and trading accuracy.
India’s UPI system integrated in 12 countries as transaction volumes surge
The digital payment interface hit a global milestone with adoption expanding to twelve nations.
RBI Launches Digital Payments E-Mandate Framework 2026 for Transparent Recurring Payments
The Reserve Bank of India introduced new rules requiring 24-hour pre-debit notifications for recurring digital payments to improve consumer protection.
UPI transactions near 30 Lakh crore mark, increase 19%
Digital payments continue to break records with massive volume growth in India.