Budget 2019: Slew of measures to give push to digital payments adoption

The Union Budget presented on Friday carried a slew of measures to further boost the adoption of digital payments in the country. The government batted for use digital payments means like BHIM, UPI, NEFT, RTGS and plastic cards versus cash for both enterprises and individuals.

In a bid to make digital payments more attractive for the corporate sector, the government has proposed no charge or merchant discount rate (MDR) for companies with more than Rs 50 crore turnover accepting payments through digital means. The MDR will instead be borne by supporting banks and the Reserve Bank of India.