PhonePe CEO Sameer Nigam says UPI customers will never be charged under the new MDR framework. Merchants, not customers, will pay 0.4% MDR on transactions above Rs 2,000, while small merchants under Rs 1 lakh turnover stay exempt. The revenue will fund UPI infrastructure, which costs Rs 10,000-12,000 crore yearly. UPI now has 50-55 crore users.
Telangana
UPI Customers Will Never Be Charged: PhonePe CEO
