UPI and Payment Settlement Systems Act Bill

0.0(0)

Studied by 0 people

Call Kai

Learn

Practice Test

Spaced Repetition

Match

Flashcards

Knowt Play

Card Sorting

1/4

Earn XP

Description and Tags

Vocabulary flashcards covering the legislative changes to the Payment and Settlement Systems (PSS) Act regarding UPI transactions and the Merchant Discount Rate (MDR).

Last updated 12:44 PM on 8/9/26

Name	Mastery	Learn	Test	Matching	Spaced	Call with Kai	Chat

No analytics yet

Send a link to your students to track their progress

5 Terms

1

New cards

UPI

Unified Payments Interface

2

New cards

Payment and Settlement Systems (PSS) Act, 2007

The specific legislation passed by the Lok Sabha to be amended to give the Centre power over digital payment exemptions.

3

New cards

Merchant Discount Rate (MDR)

A fee businesses pay to banks and payment service providers for processing digital payments.

4

New cards

Lok Sabha

The house of Parliament that passed the Bill allowing the government to permit charges on UPI transactions.

5

New cards

Merchant Discount Rate (MDR) for high-value transactions

According to reports, high-value transactions may face an MDR of $0.3-0.5\%$ .