'MDR to boost UPI use in cross border payments': JP Morgan Global Payments co-head
JP Morgan Global Payments co-head Max Neukirchen stated that introducing a merchant discount rate (MDR) on UPI transactions could enhance its use for cross-border payments. This change would provide merchants with a cost-effective alternative to cards and cash, potentially expanding UPI's international reach. The implementation of MDR is expected to incentivize intermediaries in this evolving payment landscape.