Mobile phone retailers across India are preparing a protest on October 2 against the proposed 0.4% merchant discount rate on UPI transactions, arguing the charge would sharply erode already thin margins in a highly price-sensitive business. Their body says the levy could cost small retailers about Rs 40 crore a month, or nearly Rs 500 crore a year, raising fresh tension over how digital payments should be monetised in India’s retail economy.
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"Mobile Retailers to Protest UPI MDR Charges on Oct. 2 as Small Shops Warn of Rs 500 Crore Annual Hit"
Mobile phone retailers across India are preparing a protest on October 2 against the proposed 0.4% merchant discount rate on UPI transactions, arguing the charge would sharply erode already thin margins in a highly price-sensitive business. Their body says the levy could cost small retailers about Rs 40 crore a month, or nearly Rs 500 crore a year, raising fresh tension over how digital payments should be monetised in India’s retail economy.
Mobile Retailers to Protest UPI MDR Charges on Oct. 2 as Small Shops Warn of Rs 500 Crore Annual Hit
R
RDU Global Wire
Startups & Venture Capital Desk
New Delhi, India Just now (09:17 AM IST)•6 min read
Mobile phone retailers across India are preparing a protest on October 2 against the proposed 0.4% merchant discount rate on UPI transactions, arguing the charge would sharply erode already thin margins in a highly price-sensitive business. Their body says the levy could cost small retailers about Rs 40 crore a month, or nearly Rs 500 crore a year, raising fresh tension over how digital payments should be monetised in India’s retail economy.
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