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Mobile retailers plan October 2 protest against proposed 0.4% UPI MDR
The brief
- Retailers across India plan to observe October 2 as “No UPI Day”
- The proposed merchant discount rate is 0.4%; retailers want zero-MDR UPI payments retained
- A proposed payment fee could raise costs for mobile retailers and affect UPI payment providers
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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.
Sunday, 27 September
- Mobile retailers plan October 2 protest against proposed 0.4% UPI MDR