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ZERO MDR
Mobikwik gets RBI nod for offline payment aggregator licenceMobikwik Systems secured RBI's in-principle nod for a Payment Aggregator-Physical license, paving the way for offline merchant payments. Th...- UPI processes 218.6 billion transactions till February in FY26; value at Rs 285 lakh croreJanuary recorded the highest volume with 21.7 billion transactions, followed by December and October with 21.6 billion and 20.7 billion tra...
- UPI, RuPay subsidy shrinks to Rs 8,000 crore over four yearsThe digital payments industry has received about Rs 8,000 crore in subsidy payments over four years for UPI and RuPay debit card payments, ...
- Paytm shares fall 10%: What is MDR and why fintech players want government to introduce it?Paytm shares declined following the Finance Ministry's denial of Merchant Discount Rate (MDR) on UPI transactions. This sparked investor co...
- UPI incentive of Rs 1,500 crore 'insufficient' to sustain digital payment ecosystem: Payments Council of IndiaThe Payments Council of India has expressed concerns about the sustainability of the digital payments ecosystem due to the zero MDR policy ...
- Payments companies seek ‘assured’ share of sops to keep low-value UPI freePayment aggregators are pushing for a share of government subsidies allocated for UPI transactions to cover low-value transaction costs. Th...
- Bankers seek fee on RuPay debit card use"We have argued that MDR is essential and will foster sustainability and enable continued investments in cutting-edge technologies," the ba...
- Payments council pings FM Nirmala Sitharaman to bring back RuPay MDRIn the letter, PCI has sought a “level playing field” for RuPay “to compete with its peers to attain its full potential”, especially when i...
- Digital payment sector wants MDR to be backThe Payments Council of India (PCI), the industry body for the digital payments ecosystem in the country, has written to the government urg...
- MDR waiver will hit digital payments ecosystem, says NPCI CEOThe NPCI is currently discussing the possibility of bringing back MDR with the government.
- E-payments industry counts the costs after zero MDR joltFrom the growth of UPI payments, it’s clear more users are embracing this instrument. But with a billion transactions a month being recorde...
- Nandan Nilekani says MDR would have trended to zero even without governmentMDR is a fee that is levied by banks on merchants for the payment infrastructure that is provided.
- Banks approve reduced fees for UPI, RuPayAfter a letter from the Indian Banks’ Association (IBA) on removing entire fees on these transactions, which would have meant significant r...
- Without merchant fees, banks say they can’t reimburse payment companiesAt the centre of this demand is Delhi’s decision to remove the MDR for all digital transactions.
- Digital payment gains should be used to acquire merchants, says Nirmala SitharamanThe prebudget meeting on Friday was necessitated after the government waived off MDR for merchants on digital payments made through RuPay d...
- Zero MDR good, but govt reimbursements will help payment cos: Vijay Shekhar SharmaZero percent MDR with reimbursement would be an ideal move, says Vijay Shekar Sharma.
- No MDR on RuPay,UPI payments will kill industry, warns industryThe move will apply to all companies with a turnover of Rs 50 crore or more. Merchant Discount Rate is the fee paid by a merchant to a bank...
- VISA criticizes government's zero Merchant Discount Rates movePayments companies and banks that ET has spoken with said that no clarification has been issued by the centre yet on the implementation of ...
- Digital payment firms wait for new finance secretary to discuss MDRWith Garg on his way out, discussions on the MDR proposal in the budget may need to be restarted.
- No one saw zero MDR for digital payments comingIn the RBI's vision document for 2021, the central bank said it would consider shifting from transaction value-based pricing slabs to a fix...
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