Misinformation About 1.1% UPI Charges Above 2000 (UPI is Still Free For All)

[dishank_24]

Please note that the MDR charges will only apply to UPI transactions above 2000 made through wallets and not through bank-linked UPI. It's important to clarify that these charges will be paid by the merchants and not the customers. While it's uncertain how many people use wallet UPI transactions for amounts above 2000, it's unlikely that this change will have a significant impact. Unfortunately, there is a lot of misinformation on the internet, and many sources use technical jargon, making it difficult to understand. CNBC was one of the first outlets to report on this news, but they too failed to explain it clearly.

PS - Used Chatgpt to Create this Really impressed by the results

Agreed. And Nice use of ChatGPT 😜

 

[prashantn]

Please note that the MDR charges will only apply to UPI transactions above 2000 made through wallets and not through bank-linked UPI. It's important to clarify that these charges will be paid by the merchants and not the customers. While it's uncertain how many people use wallet UPI transactions for amounts above 2000, it's unlikely that this change will have a significant impact. Unfortunately, there is a lot of misinformation on the internet, and many sources use technical jargon, making it difficult to understand. CNBC was one of the first outlets to report on this news, but they too failed to explain it clearly.

PS - Used Chatgpt to Create this Really impressed by the results

How one can pay using wallet through UPI?

 

[karankayastha]

How one can pay using wallet through UPI?

Load wallet with money & pay using upi wallet option will be visible depending on the qr

 

[CARDBITRAGE]

Please note that the MDR charges will only apply to UPI transactions above 2000 made through wallets and not through bank-linked UPI. It's important to clarify that these charges will be paid by the merchants and not the customers. While it's uncertain how many people use wallet UPI transactions for amounts above 2000, it's unlikely that this change will have a significant impact. Unfortunately, there is a lot of misinformation on the internet, and many sources use technical jargon, making it difficult to understand. CNBC was one of the first outlets to report on this news, but they too failed to explain it clearly.

PS - Used Chatgpt to Create this Really impressed by the results

It will eventually happen, it is not feasible to keep it free. Eventually, either the merchants or the consumers will have to bear the cost.

 

[karankayastha]

It will eventually happen, it is not feasible to keep it free. Eventually, either the merchants or the consumers will have to bear the cost.

No they will not at least for some years in Future anything is possible