NEW DELHI: The government has rejected the opposition’s charge that the introduction of a Merchant Discount Rate (MDR) on UPI payments was intended to benefit American card companies.
The Centre on Wednesday rejected claims that the introduction of a Merchant Discount Rate (MDR) on UPI payments was driven by foreign influence, after the opposition alleged that the move was aimed at appeasing US President Donald Trump.
Clearing the air over the allegations, the Finance Ministry said India’s UPI policy decisions were made “independently”, and it would continue to remain free for consumers.
“Some claims suggest the change is due to foreign influence. This is false. India’s UPI policy decisions are made independently, with the clear goal of building a self-sustaining, inclusive, and affordable digital payments ecosystem,” the statement said.
The government’s clarification comes after the Congress suggested the fee was being introduced to address US grievances that UPI and RuPay had hurt Visa and Mastercard.
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