UPI payments: Will petrol pumps stop accepting amounts above ₹2,000? Nithin Kamath warns of impact on stockbrokers
The new UPI merchant discount rate (MDR) framework announced by the central government and the NPCI, which will carry a charge of 0.4% MDR for merchants on transactions above ₹5, has led to pushbacks from industry associations, with some local traders in several parts of the country threatening to not accept UPI payments above ₹2,000 if the charges are not revoked.
Petrol pump dealers in Mumbai have warned that they may stop UPI payments above ₹2,000 from 15 October if the central government foes not exempt fuel retailers from the 0.4% MDR, NDTV Profit reported.
