UPI MDR could cost 47.2 bps with GST for merchants
The new framework introduces a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, capped at Rs 300 on transactions of Rs 75,000 and above, while consumers will not be charged. It takes effect from October 15. GST is paid by the service provider who typically recover the amount from whoever receives service.
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