TechMediaNamaabout 4 hours ago
Retailers Push Back Against UPI MDR
6 min read
India's new UPI merchant discount rate takes effect October 15, charging a flat Rs 5 on person-to-merchant transactions above Rs 2,000 in fuel and other thin-margin sectors, plus 0.4% standard and 0.02% for capital markets. Petrol dealers in Madhya Pradesh will refuse UPI payments above Rs 2,000 from October 16, citing monthly losses near Rs 18,000.
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