Traders in Ghaziabad have started putting up notices outside their shops saying “UPI Payment Will Not Be Accepted” in protest against the proposed Merchant Discount Rate (MDR) on selected UPI transactions above Rs 2,000 from October 15. The notices have appeared at shops as traders voice concerns over the proposed 0.4 per cent charge. They say that although the government has said the MDR will be charged to merchants, the additional cost could eventually affect customers. Traders are advising customers to carry cash when making purchases from October 15, particularly for transactions above Rs 2,000. They argue that merchants may not be willing to absorb the additional cost and could instead ask customers to pay in cash for larger purchases. The proposed MDR has become a major point of discussion among traders and shopkeepers in Ghaziabad, with many opposing the move. The traders' notices are effectively a warning to customers that UPI may not be accepted for certain higher-...
Traders in Ghaziabad have started putting up notices outside their shops saying “UPI Payment Will Not Be Accepted” in protest against the proposed Merchant Discount Rate (MDR) on selected UPI transactions above Rs 2,000 from October 15. The notices have appeared at shops as traders voice concerns over the proposed 0.4 per cent charge. They say that although the government has said the MDR will be charged to merchants, the additional cost could eventually affect customers. Traders are advising customers to carry cash when making purchases from October 15, particularly for transactions above Rs 2,000. They argue that merchants may not be willing to absorb the additional cost and could instead ask customers to pay in cash for larger purchases. The proposed MDR has become a major point of discussion among traders and shopkeepers in Ghaziabad, with many opposing the move. The traders' notices are effectively a warning to customers that UPI may not be accepted for certain higher-...