National Payments Corporation of India (NPCI) and banks have worked out the merchant discount rate (MDR) on credit card transactions on the RuPay-Unified Payments Interface (UPI).
According to a Business Standard report, NPCI will maintain the same 2% merchant discount rate (MDR) for RuPay credit cards on UPI as it does for all other credit cards. The issuing bank will receive approximately 1.5%, with the acquiring entity and RuPay sharing the remaining 0.5% of the 2% MDR to be charged. The reports come as the NPCI and banks prepare to link credit cards to UPI. According to NPCI CEO Dilip Asbe, the linking will begin within the next two months, as the payments body is in negotiations with several banks.