What is the new Merchant Discount Rate(MDR) for transactions above Rs 2,000 in BHIM UPI (Unified Payment Interface) transactions?

  • 10.65%
  • 20.50%
  • 30.75%
  • 40.30%
Answer:- 1

National Payments Corporation of India (NPCI) has waived merchant fees for offline UPI transactions of up to Rs 100 made using QR(Quick Response) code scan-and-pay. For the large transactions, merchant fees have been capped at Rs 100. ii. For other transactions, the merchant discount rate (MDR) has been hiked to 0.30% (maximum Rs 100). Currently, it is 0.25% for transactions up to Rs 2,000. It will be 0.65% for transactions above Rs 2,000. The revised MDR rates will come into effect from October 1, 2019.

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