Will you have to pay a charge for making UPI payment from Credit Card?
New update surfaced
UPI Payments News: Big banks in india are issuing Rupay credit cards. Due to this, its market share has also reached 30 percent.
Will you have to pay a charge for making UPI payment from Credit Card? New update surfaced
UPI Payments
Now whether it is drinking tea worth Rs 10 or shopping for thousands of rupees, everyone has become accustomed to UPI payments. people have become so habituated to UPI apps like Paytm, google Pay, PhonePe that they have forgotten to keep cash in their pockets. Online payments have increased further since the Covid pandemic. But now an information has come out regarding UPI payment. This information can increase the tension of UPI users.
Actually, when the craze of online payment increased in india, Rupay payment network was launched. It was a completely indian network. Which gave tough competition to America's Visa and Mastercard network as soon as it came into the market. Today, big banks in the country are issuing Rupay credit cards. Due to this, its market share has also reached 30 percent.
Talking to the media, some experts say that users have started using credit cards more on UPI Payment. Now because MDR charge is levied on payment of more than Rs 2,000, so in such a situation, the charge can be increased on making online payment through credit card. That is, you may have to pay charges even on small payments.
However, no official information has been revealed about this. But it has been under consideration for a long time. Last month, fintech companies had expressed concern to the government about the lack of revenue in UPI.
They said that if one wants to remain in the market for a long time, then a system like credit card with Merchant Discount Rate (MDR) is needed. The companies claimed that the zero MDR model is not working.
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