@realDonaldTrump When it's in USA they say it's a fake news and banned them but if it happens in India they they lecture us about freedom of speech. Fuc***king duel mindset.
๐ UPI Continues to Remain Free for Peer to Peer Transactions and 96% of Merchant Transactions
๐ The new UPI framework introduced has no impact on any person to person transactions
๐ UPI will continue to remain completely free for all person-to-person transactions, irrespective of the amount transferred
๐ Payments to merchants up to โน2,000, along with transactions covered under the zero-MDR framework for small merchants, will also remain free
๐ Consequently, approximately 96% of all P2M transactions will remain unaffected. MDR will apply only to specified merchant transactions above โน2,000
๐ It is clarified that MDR is neither a tax nor a charge collected by the Government or @NPCI_NPCI. It is distributed among payment ecosystem participants, including banks and payment application providers, to support the operation and continued expansion of the UPI ecosystem
๐ Introduced under the Payment and Settlement Systems Act, 2007, following detailed deliberations by the UPI Steering Committee, the framework seeks to ensure the long-term sustainability of UPI while protecting individuals and small merchants from additional charges
Read here for full details โก๏ธ https://t.co/KGxlX3SVC0