‘First we were pushed to UPI’: Why Delhi traders see no way to pass on new fee
Traders in Nehru Place, Delhi, are concerned about a new 0.4% Merchant Discount Rate on UPI payments exceeding ₹2,000, effective October 15. Many believe they cannot pass this cost onto customers due to fierce competition and thin profit margins. The Union Finance Ministry has advised banks to prevent merchants from imposing this fee on consumers.