SC refuses to stay fee on UPI payments above Rs 2,000
However, the bench asked the Union government to explain the decision to allow the charges.
Black News 
The Supreme Court on Monday refused to stay the Union government’s decision to allow fee to be levied on Unified Payments Interface transactions above Rs 2,000, Live Law reported.
However, the court sought the government’s response on the petition challenging the move.
On September 14 and September 15, the Ministry of Finance issued notifications stating that UPI payments to merchants valued above Rs 2,000 would attract a merchant discount rate of 0.4%.
Merchant discount rate is a fee charged to businesses by banks to cover the costs of processing transactions. The rate typically ranges from 1% to 3% of the transaction value for credit card payments and can be up to 0.9% for debit card transactions.
The petitioner submitted before the court that businesses may pass on the additional cost of the UPI charges to consumers.
Additional Solicitor General N Venkataraman, appearing for the Union government, submitted before the court that 96% of transactions would not attract the charge, Live Law reported. The charges would take effect on October 15.
“It is neither a tax nor a fee,” he was quoted as saying.
Chief Justice Surya Kant said that the government should place these facts on an affidavit as “it is more of a technical issue”, the legal news outlet reported.
Venkataraman also submitted that the Union government would not receive...
