MDR on UPI coming soon; India's new class of robot workers
Happy Friday! With a fee on UPI set to come into the picture soon, issuing banks are poised to claim the biggest slice. This and more in today’s ETtech Morning Dispatch.
The upcoming implementation of a 40-basis-point UPI merchant discount rate (MDR) will primarily benefit banks, with issuing banks retaining 40% of the fee while third-party apps and acquiring banks each receive 30%. The fee may apply to merchants with annual turnovers of Rs 1-1.5 crore and transactions exceeding Rs 2,000, with potential sector-specific rates.
Despite the new fee regime, regular users and small merchants are likely to be exempt. The move aims to address the sustainability concerns of the current MDR model as incentives decline. Additionally, India's physical AI boom is leading to the emergence of a new class of robot workers, including teleoperators, robot operators, field technicians, data annotators, supervisors, and robotics maintenance staff.
Companies like Instawork and Awign are actively hiring for these roles, recognizing the need for diverse and high-quality multimodal datasets that reflect different environments, tasks, and behaviors.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
