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Updated 2h agoBusiness & Markets

Fuel Pumps May Stop UPI Payments Over 2,000 Rupees In October

Headline by Prism · from 1 report

Petrol pump operators plan to restrict UPI transactions over 2,000 rupees due to proposed merchant discount rate charges.

1 outlet · 1 report · EnglishOne source so far

The record

Written from the 1 report below. Nothing here is unsourced.

  • Petrol pump dealers are threatening to stop accepting UPI transactions exceeding 2,000 rupees starting October 15.
  • The proposed move comes in response to a planned 0.4% Merchant Discount Rate (MDR) on UPI fuel payments.
  • Dealers are requesting a complete exemption from these charges to maintain current payment processing operations.

What to watch next

  • October 15 deadline for implementation of the transaction restriction.
  • Potential government or industry response to the exemption demand.

Coverage1

1 report
English national1

All filed from India

Named India · Petrol pump dealers

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Fuel Pumps May Stop UPI Payments Over 2,000 Rupees In October | Prism