Payments body PCI urges PMO to levy MDR on UPI, RuPay debit cards

The Payments Council of India (PCI) — a representative body of digital payments players in India –has shot off a letter to Prime Minister Narendra Modi demanding introduction of a 0.30 per cent merchant discount rate (MDR) regime on transactions made through Unified Payments Interface (UPI) at large merchants.

The PCI has also sought to introduce an MDR structure on RuPay debit card transactions applicable to merchants of all sizes.