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BT Big Story: The price tag of UPI: Will small shops go back to cash?
The brief
- A 0.4% MDR will apply to merchant UPI transactions above Rs 2,000
- MDR supporters say the charge will help UPI become…
- Merchant payment costs may rise, affecting fintech and payments companies and small retailers
- ETMarkets Smart Talk| F&O STT, UPI charges and trading costs: Sandeep Neema on the hidden drag on retail returns
- UPI MDR puts big-ticket retail payments in focus
- Repeated ₹2,000 UPI payments for one purchase? Your bank could flag the pattern: What it means
- Credit card charge looks wrong? Know what to do before paying the bill
- UPI MDR explained: Will mutual fund SIPs and lumpsum investments be affected?
UPI MDR rollout and consumer protection
SBI plans to charge MDR on UPI merchant payments above ₹2,000 from October 15, while officials say MDR collections will not cover UPI’s full operating costs and the government and banks will decide a continuing subsidy. The Finance Minister says the fee will be borne within the merchant-payment ecosystem, not passed to consumers; the government is also discussing safeguards with banks.
Friday, 25 September
- BT Big Story: The price tag of UPI: Will small shops go back to cash?