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MDR Could Push Small Merchants, Price-Sensitive Consumers Back Towards Cash: GTRI
UPI fees are not about revenue as keeping UPI free costs the government Rs 2,000-2,500 crore annually.
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MDR could push small merchants, price-sensitive consumers back towards cash: GTRI
Effective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4 per cent MDR with an overall cap of Rs 300. Besides, a flat concessional MDR of Rs 5 would be applicable on specific merchant categories such as railways, telecom services, insurance, and fuel for transaction above Rs 2,000.
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