PUBLISHED BY: GREATFUTURE INFO  In Brief:[ Unified Payments Interface Continues to Remain Free for Peer to Peer Transactions and 96% of Merchant Transactions] ,New Delhi, September 15,    Sep 15, New Delhi:  The new Unified Payments Interface (UPI) framework introduced has no impact on any person to person transactions. UPI will continue to remain completely free for all person-to-person transactions, irrespective of the amount transferred. Payments to merchants up to Rupees 2,000, along with transactions covered under the zero-Merchant Discount Rate or MDR framework for small merchants, will also remain free. Consequently, approximately 96% of all P2M transactions will remain unaffected. MDR will apply only to specified merchant transactions above Rupees 2,000. It is clarified that MDR is neither a tax nor a charge collected by the Government or NPCI. It is distributed among payment ecosystem participants, including banks and payment application providers, to suppor...

Published by: Greatfuture Info Aug 25, New Delhi:  A decade of tapping, scanning and paying with ease. Under Prime Minister Narendra Modi's vision for a Digital India, The Unified Payments Interface (UPI) has transformed digital payments into an everyday habit, making payments faster, simpler and more accessible for common people . What began as an innovative payment system has evolved into a global benchmark for fast, seamless and inclusive digital transactions. India's digital payments ecosystem has undergone a remarkable transformation over the past decade. It is driven by the vision of creating a simple and secure payment system accessible to every citizen. The Unified Payments Interface (UPI), developed by the National Payments Corporation of India (NPCI), has emerged as a cornerstone of India’s digital payments revolution. Today, UPI is accepted in 11 countries, with Greece and the Maldives being the latest to adopt India's real-time payment platform. Source:-PB-SHABD