The record
Written from the 1 report below. Nothing here is unsourced.
- Traders in Uttarakhand are beginning to transition back to cash transactions following reports that a 0.4 percent merchant discount rate fee will apply to UPI payments exceeding 2,000 rupees starting October 15.
- Many shopkeepers expressed frustration, arguing that the introduction of such fees undermines the progress of digital payments in the country.
- While the government maintains that the fee will not impact common people or person-to-person transfers, business owners fear potential financial losses and some are considering passing the costs on to customers.
What to watch next
- Actual implementation of the MDR fee on October 15
- Further reaction from trader associations regarding UPI usage
- Impact of reduced digital transactions on local business revenue
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1 report
Indian-language1
All filed from India
Named India · Dhamawala · Paltan Bazar · Uttarakhand
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