Free to fee: 0.4% on UPI payments over Rs 2,000

Free to fee: 0.4% on UPI payments over Rs 2,000

National Payments Corporation of India on Tuesday announced a 0.4% merchant discount rate (MDR) on UPI transactions above Rs 2,000, with an overall cap of Rs 300, and a flat Rs 5 charge for utility payments, fuel purchase, insurance premium, rail tickets, and a host of government services.