- Shopkeepers will get a bump…
- Extra Charge recovery from customers on UPI
- QR code will block directly!
UPI Payment Rules : It can be said that the campaign for Digital India is getting very intense now. Now the use of UPI has increased in transactions instead of cash. Merchants will now be charged a fee for payments of more than ₹2,000 using UPI. But to prevent merchants from overcharging consumers, the government is working on developing a new system that will target any merchants who try to overcharge consumers in the future. What exactly is this system and how it can benefit traders”text-align: justify;”> US 100% Tariff Impact : Crisis on India increased? Donald Trump's Signed… 100% Tariff Bump, Big Impact?
Block QR code if MDR is charged to customers
The new system may also provide an option to take action against traders who violate the rules. If a merchant is found to be charging MDR forcefully to customers, his UPI and code may be blocked. This will make it impossible for that merchant to accept payments through UPI.
Arrangements for Redressal of Grievances
Government is considering setting up a grievance redressal system to redress consumer grievances. Through this, customers will be able to easily and hassle-free file complaints against additional charges under MDR. The government's proposed system aims to prevent customers from being charged exorbitant fees during UPI payments and ensure strict action against merchants who violate the rules.
It should be noted that the UPI charges will be applicable across the country from October 15. According to NPCI, merchants will be charged 0.4% for UPI payments above ₹2,000 and 18% GST will also be levied on this fee. Thus, merchants will have to pay approximately ₹9.44 for every payment of ₹2,000.
Traders warned
Merchants have warned about MDR on UPI. Merchants say that if the government does not change the rules, they will have to go back to cash or stop accepting UPI payments above Rs 2,000.
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