{"id":7146,"date":"2020-01-02T05:42:59","date_gmt":"2020-01-02T05:42:59","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=7146"},"modified":"2020-01-02T05:42:59","modified_gmt":"2020-01-02T05:42:59","slug":"no-extra-charge-on-digital-payments-via-upi-rupay-form-2020","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/no-extra-charge-on-digital-payments-via-upi-rupay-form-2020\/","title":{"rendered":"No extra charge on Digital payments via UPI, RuPay form 2020"},"content":{"rendered":"\n<p>All digital transactions using RuPay or UPI will not face\nadditional charges from January 1, 2020. The central government has decided to\nremove the Merchant Discount Rate (MDR) to promote digital payments.&nbsp; Earlier, the central government amended two acts,\nPayments and Settlement Systems Act and the Income Tax Act. Now, the Department\nof Revenue (DoR) will notify UPI and RuPay as the approved mode of payment for\ndigital transactions without any Merchant Discount Rate (MDR).<\/p>\n\n\n\n<p><strong><em><a href=\"https:\/\/www.gkseries.com\/blog\/current-affairs-quiz-2019-daily-gk\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" aria-label=\"Daily Current Affairs Quiz 2020 (opens in a new tab)\">Daily Current Affairs Quiz 2020<\/a><\/em><\/strong><\/p>\n\n\n\n<p>This step will promote home-grown digital payment gateways,\nRuPay and UPI. Other foreign payment gateway companies are VISA and MasterCard.\nIt will also reduce the transaction cost of digital payments as well as it will\nenhance the use of digital payment in India. This recent move by Finance\nMinister can play a major role to boost the digital economy of India.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>All digital transactions using RuPay or UPI will not face additional charges from January 1, 2020. The central government has decided to remove the Merchant Discount Rate (MDR) to promote digital payments.&nbsp; Earlier, the central government amended two acts, Payments and Settlement Systems Act and the Income Tax Act. Now, the Department of Revenue (DoR) [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":7147,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[871],"tags":[],"offerexpiration":[],"class_list":["post-7146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-january-2020"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/7146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=7146"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/7146\/revisions"}],"predecessor-version":[{"id":7148,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/7146\/revisions\/7148"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/7147"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=7146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=7146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=7146"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=7146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}