UPI’s new MDR pot gets a small merchants twist
India's Payments Corporation of India (NPCI) has unveiled a new fund financed by Merchant Discount Rate (MDR) collections to bolster small merchants and bolster digital payment infrastructure in smaller cities ahead of the implementation of MDR on select UPI transactions from October 15. The dedicated fund will aid merchant onboarding, spur higher UPI transaction volumes among existing small merchants, and aid digital payment infrastructure in Tier 3 to Tier 6 centres, including the Northeast, Jammu & Kashmir, and Ladakh. The proposal also aims to support notified Central government schemes in these locations.
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