Traders call for a No UPI Day on 2 October, against the new merchant fee
- Trade bodies have declared October 2 as 'No UPI Day' to protest the MDR levy on digital payment transactions.
- In August 2023, UPI facilitated 15.51 billion person-to-merchant transactions, totaling ₹8.95 trillion in value.
- Transactions exceeding ₹2,000 accounted for approximately 67 percent of the total transaction value processed in August.
- The protest seeks to highlight the financial impact of the MDR levy on the digital payments ecosystem.
Source: economictimes.indiatimes.com
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