The central government today has taken a very major decision to accelerate digital payments in the country. The MDR charges upon transactions worth Rs 2,000 shall now be reimbursed by the government to the merchants and the banks.
This means that from January 1 next year, you will not have to pay fees on the debit card, BHIM, and UPI transactions up to Rs 2,000 for at least two years.
Merchant Discount Rate (MDR) applicable on all debit card/BHIM UPI/ AePS transactions up to and including a value of Rs 2000 will be borne by the government for 2 years with effect from 1 January 2018 by reimbursing same to the banks.
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