Nearly half of Indian merchants unwilling to pay MDR on UPI transactions, survey finds

Summary

A recent survey by LocalCircles indicates that nearly half of Indian merchants are unwilling to pay the Minimum Discount Rate (MDR) on UPI transactions exceeding Rs 2000. The survey found that 41% of merchants would not bear any MDR charges, while 53% of UPI users would switch to other payment methods if MDR was levied on them for higher-value transactions.