Last year, the government paid Rs 2,196 crore by way of this subsidy, which is offered to banks for processing UPI and RuPay debit card pay...

SBI economists say the Rs 437 crore subsidy for UPI and RuPay in FY26 may be increased, as UPI participants face costs up to Rs 5,000 crore...

In a letter written to the PMO earlier today, the Payments Council of India said that more than 90% of merchants are small, and hence will ...

Happy Friday! The digital payments industry faces challenges following the government's changes to RuPay subsidies. This and more in today’...

The digital payments industry faces a Rs 500-600 crore loss as the government withdraws RuPay debit card subsidies. Fintech firms seek MDR ...

This comes in the background of the government allocating Rs 1,500 crore towards payment subsidy, while the industry was looking for Rs 5,5...

Here’s a close look at the MDR’s journey over the years and what its reintroduction will mean for large merchants, banks and payment servic...

Currently, there is no merchant discount rate (MDR) on UPI and RuPay debit card transactions processed through the National Payments Corpor...

Banks and fintech firms are awaiting subsidy payments from the government for promoting digital payments. Despite applications being filed,...

Under the Incentive scheme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions, the government pays banks an incenti...

The Central Board of Indirect Taxes and Customs (CBIC) Friday clarified that incentives paid by the Ministry of Electronics and Information...

The companies have written to the National Payments Corp. of India (NPCI), complaining that ₹700 crore of the ₹1,500 crore granted in the b...

MDR was a fee accrued by banks, generally levied from merchants processing the transactions. It was shared equally between the acquiring ba...

Zero MDR would disincentivise banks to issue RuPay cards and they would prefer its rivals, SBI has said.

The Rs 1-lakh free personal accident cover with a JDY account is valid as long as the account holder uses the RuPay debit card once in 45 d...

The benefit of Pradhan Mantri Jan Dhan Yojana (PMJDY) can be extended to existing account holders without opening a new account.

RuPay will compete with Visa and MasterCard in terms of cost and quality of service, and it is only natural to expect the incumbents also t...