In Bengaluru, local merchants are rallying against a suggested MDR affecting UPI payments above Rs 2,000 (Representative image)
BENGALURU: The proposed merchant discount rate (MDR) on certain UPI transactions above Rs 2,000 has drawn opposition from fuel dealers, pharmacies, restaurants and wholesale traders in Bengaluru. Come Oct 15, an MDR of Rs 5 will be levied on each UPI transaction above Rs 2,000. You Can Also Check: Gold Rate in Bengaluru | Silver Rate in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru | Bengaluru AQI | Weather in Bengaluru | Petrol Price in Bengaluru | Diesel Price in Bengaluru | CNG Price in Bengaluru | LPG Price in Bengaluru Stay updated with the latest Bengaluru news.
They fear the additional cost could squeeze already thin margins and discourage digital payments. Fuel bunk owners in the city have urged the Centre to exempt petroleum dealers from the proposed MDR. Download the TOI App.