Small Merchants to Maintain Zero MDR on Monthly UPI QR Payments Up to Rs 1 Lakh
Quick Brief
Small merchants receiving up to Rs 1 lakh per month through UPI QR code transactions will maintain zero Merchant Discount Rate (MDR) charges under a newly established framework. The guidelines take effect ahead of upcoming changes scheduled for October 15. This ensures that qualifying small business owners can continue accepting digital payments without incurring transaction fees.
What Happened?
A new framework regarding UPI transaction charges has been detailed, establishing that small merchants receiving up to Rs 1 lakh a month via UPI QR code payments will remain exempt from MDR fees.
Why It Matters
Exempting small merchants from MDR charges up to a monthly threshold of Rs 1 lakh encourages the continued adoption of digital payments among micro-businesses, protecting small-scale vendors from added operational costs.
Key Facts
- Small merchants will continue to operate under a zero MDR framework.
- The exemption applies to businesses receiving up to Rs 1 lakh a month.
- The policy specifically covers UPI QR code payments.
- The updated framework is tied to changes effective October 15.
Compiled from 1 outlet
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