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UPI MDR proposal: 5% of collections to help small merchants

UPI MDR proposal: 5% of collections to help small merchants

NewsBytes 8 hrs ago
The National Payments Corporation of India (NPCI) has proposed a dedicated fund, financed from Merchant Discount Rate (MDR) collections, to support small merchants and expand digital payment infrastructure in smaller cities.
The move comes as India prepares to introduce MDR on select Unified Payments Interface (UPI) transactions from October 15. The fund will support merchant onboarding, encourage higher UPI transaction volumes among existing small merchants, and help build digital payment infrastructure across Tier 3 to Tier 6 centers.
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