‘No UPI Day’ on October 2? Mobile retailers protest proposed 0.4% MDR on payments
AIMRA has called for merchant UPI payments to continue under the existing zero-MDR structure. AIMRA Vice President and Delhi-NCR President Tarvinder Singh said the association had chosen October 2 for the protest to draw attention to the concerns of mobile retailers.
Mobile phone retailers across India are staging a protest on October 2 to voice their opposition to a proposed 0.4% Merchant Discount Rate (MDR) on certain UPI transactions. The All India Mobile Retailers Association (AIMRA) has called for a "No UPI Day" to highlight the potential financial burden this fee could impose on small retailers.
The protest, organized on Gandhi Jayanti, involves retailers stopping UPI payments and concealing their QR codes. AIMRA has warned that the fee could cost retailers handling ₹5 lakh in UPI transactions per month around ₹2,000. AIMRA's Vice President, Tarvinder Singh, emphasized that the campaign is not against UPI or digital payments, but rather the additional cost for merchants.
The proposed MDR, which will apply to UPI transactions over ₹2,000 starting October 15, has also faced legal challenges, with the Supreme Court set to hear a petition on the matter. AIMRA stresses that the revenue generated from the MDR will not go to the government but will instead be distributed among financial institutions and payment service providers.
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