No UPI Transactions On October 2: Traders To Cover QR Codes In Black; Here's Why
THThe organisation has also asked traders to accept cash payments on the day.
The protest comes ahead of the new UPI MDR framework that takes effect on October 15. Under the framework, a 0.4% MDR will apply to specified person-to-merchant UPI transactions above ₹2,000, with the fee capped at ₹300 for transactions of ₹75,000 and above. Customers will not be charged the MDR directly.
Why Are Traders Opposing UPI MDR?
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No UPI Transactions On October 2: Traders To Cover QR Codes In Black; Here's Why
<p>THThe organisation has also asked traders to accept cash payments on the day.</p> <p>The protest comes ahead of the new UPI MDR framework that takes effect on October 15. Under the framework, a 0.4% MDR will apply to specified person-to-merchant UPI transactions above ₹2,000, with the fee capped at ₹300 for transactions of ₹75,000 and above. Customers will not be charged the MDR directly.</p> <h2>Why Are Traders Opposing UPI MDR?</h2> <p>CTI …
Mumbai: Traders in Maharashtra have announced to observe ‘No UPI Day’ on October 2, i.e. Gandhi Jayanti. According to the Maharashtra Chamber of Commerce, Industry and Agriculture, around 20,000 traders in the state are likely to join the protest. On this day, shopkeepers will accept payments only in cash instead of accepting payments through UPI. Why are traders protesting? […] The post Why did 20,000 traders announce ‘No UPI Day’? appeared fir…
UPI MDR Charges 18% GST: Merchants across the country have raised a fine against UPI MDR charges. They have announced a No UPI Day on October 2, Gandhi Jayanti. Even before that, the government has increased its activities. A big update has come to the fore.
No UPI Day | Protests by traders across the country against the Centre's proposed MDR on UPI transactions are intensifying. In this context, trade associations have decided to observe 'No UPI Day' across the country on October 2.
Traders in Mumbai are protesting against the new 0.4% Merchant Discount Rate (MDR) charge on UPI.
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