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.
- Traders across Maharashtra intend to refuse digital payments and display protest messages on October 2 to oppose new transaction fees.
- The National Payments Corporation of India recently introduced a 0.4 percent merchant discount rate for certain transactions exceeding Rs 2,000.
- Business leaders argue that these additional costs will negatively impact the thin profit margins of small and medium-sized enterprises.
- The protest aims to pressure the government into withdrawing the newly announced merchant fees.
What to watch next
- The potential impact on digital payment adoption if traders switch to cash.
- Government response to the demand for MDR withdrawal by the MCCIA.
- The extent of participation from petrol pump operators and affiliated organizations.
Who said what1
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Ravindra Mangave
MCCIA president
1 quote · 1 outlet
“We are not opposed to UPI payments; however, we strongly oppose the newly imposed 0.4 per cent MDR on UPI transactions. Any decision that puts a further burden on traders’ profits will not be accepted”
In the article
…transaction. The MCCIA has demanded that the MDR be withdrawn. Mangave said the traders were not opposed to UPI payments but were seeking the withdrawal of the MDR, which, he said, would ultimately affect consumers. “ We are not opposed to UPI payments; however, we strongly oppose the newly imposed 0.4 per cent MDR on UPI transactions. Any decision that puts a further burden on traders’ profits will not be accepted ,” he said. The Central government has said most UPI transactions will not be affected and that concessions for small traders will remain intact. However, Mangave said the transaction patterns of a large number of small…
Coverage1
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Named India · Maharashtra Chamber of Commerce, Industry and Agriculture · National Payments Corporation of India · Ravindra Mangave
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