The record
Written by software from the 1 report below. The points restate them; where one says why it matters, that is Prism's reading, not a reported fact.
- The Congress party has called for the cancellation of a new UPI merchant discount rate structure.
- Party leaders have requested that the government release details on the consultations and reasoning behind this policy change.
- Concerns were raised that the new costs could be passed down to traders and ordinary consumers.
- The party argues that such significant changes to a widely used digital payment system warrant greater public scrutiny.
What to watch next
- Government response to demands for transparency regarding the new MDR revenue-sharing formula.
- Potential impact of the new MDR on retail prices and supply chain costs.
- Further political action or protests from the Congress party regarding UPI charges.
Who said what2
Only words found exactly in the article are shown, attributed and linked to the line they came from.
Syed Khalid Saifullah
Hyderabad DCC chief
1 quote · 1 outlet
“The questions are why the zero-MDR policy was changed, who stands to financially benefit from this change and whether the cost will ultimately reach ordinary consumers”
In the article
…DCC chief Syed Khalid Saifullah and party spokesperson Syed Nizamuddin said the UPI had become part of the everyday life of crores of Indians and any major change in its cost structure required public scrutiny. “ The questions are why the zero-MDR policy was changed, who stands to financially benefit from this change and whether the cost will ultimately reach ordinary consumers ,” he said. The Congress leader also questioned who would financially benefit from the new revenue stream. He said banks, payment service providers and dominant UPI applications would share MDR revenue and demanded that…
Syed Nizamuddin
party spokesperson
1 quote · 1 outlet
“Merely saying that the consumer will not be charged MDR does not settle the economic question. If the merchant has to bear a new cost on every eligible higher-value UPI sale, who eventually absorbs that cost”
In the article
…rollback of the new MDR on higher-value UPI merchant transactions, Nizamuddin warned that the additional payment cost could move through the wholesale-retail supply chain and ultimately affect traders and consumers. “ Merely saying that the consumer will not be charged MDR does not settle the economic question. If the merchant has to bear a new cost on every eligible higher-value UPI sale, who eventually absorbs that cost ,” he asked.…
Coverage1
All filed from India
Named India · Government of India · Congress · Syed Khalid Saifullah · Syed Nizamuddin
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