CAIT backs nominal MDR on high-value UPI transactions if proposed, says await bill details

The Confederation of All India Traders (CAIT), a leading body representing traders across India, on Wednesday said it would support a nominal Merchant Discount Rate (MDR) on higher-value Unified Payments Interface (UPI) transactions if proposed by the government, while stressing that the details of the legislation should be examined before drawing any conclusions.

Speaking to ANI, CAIT Secretary General and BJP MP Praveen Khandelwal said the government would have logical reasons behind bringing any such proposal and expressed confidence that it would ultimately make digital payments more convenient.