A public interest litigation (PIL) matter has been filed in the Supreme Court, challenging the Centre's decision to impose a merchant discount rate (MDR) on specified UPI person-to-merchant transactions of above Rs 2,000, saying the levy has been introduced without adequate statutory safeguards, transparency or public consultation.
The government has introduced a 0.4% fee on UPI payments of more than Rs 2,000 made to merchants from October 15. Under this, a merchant discount rate (MDR) of 0.4% is to be levied on person-to-merchant transactions of above Rs 2,000. However, no MDR is to be levied on UPI transactions of up to Rs 2,000.
