MP petrol pump dealers to stop accepting UPI payments above ₹2,000 from October 15

From October 15, petrol pumps in the state of Madhya Pradesh will cease accepting Unified Payments Interface (UPI) transactions exceeding ₹2,000. This decision stems from a unanimous vote at a meeting of the MP Petrol Pump Association, which represents 4,700 dealers across the state. These dealers have announced they will only accept cash payments for amounts above ₹2,000, refusing to absorb the 0.4% merchant discount rate (MDR) imposed by the central government.

The association's president, Ajay Singh, expressed the dealers' opposition to the policy change. He noted that a significant portion of fuel sales in the state is conducted via UPI, and this new duty will significantly impact their already fixed profit margins. The association clarified that they will not organize any protests but will discourage UPI transactions by limiting them in this manner.

While the association stated they wouldn't engage in protests, they intend to dissuade UPI payments by imposing this restriction. An association member pointed out that this move will particularly affect rural consumers, as they predominantly rely on UPI for their payment needs.