Uttarakhand Traders Divided Over New UPI Merchant Discount Rate
Traders across Uttarakhand have expressed mixed reactions to a merchant discount rate now being applied to UPI payments, according to a September 17 Times of India report.
Current Summary
Traders in Uttarakhand have mixed reactions to a Merchant Discount Rate (MDR) now being applied to UPI transactions, according to September 17-18 reports from Times of India and ANI. A September 18 ANI report specifies the disputed charge as a proposed 0.4% MDR on UPI payments above Rs 2,000, which Dehradun traders oppose, while some traders elsewhere report smoother payments. A separate September 18 Pioneer Edge report says petrol pump owners in Dehradun are now pushing customers toward cash payments because of concerns over the new charge. The reports do not disclose when the rate took effect statewide or whether the state government or RBI has issued clarification.
What We Know
- Uttarakhand traders have mixed reactions to a new Merchant Discount Rate applied to UPI transactions.
- Some traders reported smoother payments while others voiced concerns, according to the report.
- Dehradun traders oppose a proposed 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, according to a September 18 ANI report.
- Petrol pump owners in Dehradun are encouraging cash payments over UPI amid concerns about the new merchant discount rate, per a September 18 Pioneer Edge report.
What Is Still Unclear
- The exact MDR percentage or transaction threshold being applied.
- Which UPI transactions or merchant categories are affected.
- When the new MDR took effect.
- Whether the state government or RBI has issued an official clarification.
What Changed
- 18 Sept, 02:41 pmPetrol pump owners in Dehradun are pushing customers toward cash payments amid concerns over the new UPI merchant discount rate, according to a September 18 Pioneer Edge report.
- 18 Sept, 03:10 amDehradun traders have specified the disputed charge as a proposed 0.4% Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, according to a September 18 ANI report, with some traders opposing the fee.
- 17 Sept, 05:01 pmSignal detected: Uttarakhand Traders Divided Over New UPI Merchant Discount Rate