50 new payment apps keen on joining UPI despite zero MDR: NPCI MD & CEO

The absence of merchant discount rate (MDR) is not deterring new participants to join the UPI ecosystem, with 50 new third-party application providers (TPAPs) keen on boarding the real-time payments’ rails, a senior official of the National Payments Corporation of India (NPCI) has said.

Acknowledging that the absence of a revenue model on UPI may have deterred new players from entering the market in the past few years, Dilip Asbe, managing director and chief executive officer (CEO), NPCI, said, the ecosystem is witnessing increasing interest from new participants in the past one year.