SENSEX
NIFTY
GOLD
USD/INR

Weather

image 32    C

Opinion News

The Economic Times

Opinion / The Economic Times

details

Don't put a toll on UPI: Why merchant discount rate isn't the answer

A proposal to introduce a merchant discount rate (MDR) on UPI transactions above 2,000 for businesses with annual turnover of 1-1.5 crore aims to address the cost of maintaining the payments ecosystem. While banks and payment providers need a sustainable revenue model, the article argues that reintroducing MDR would undermine UPI's biggest strengtha simple, universal, zero-cost payment system.

20 Jul 2026 11:41 pm