Digital payment sector wants MDR to be back

The digital payment sector is seeking reintroduction of MDR (merchant discount rate) charges in the union budget as the absence of it is crippling the homegrown payment service providers while multinational companies benefit from levying those charges.

The Payments Council of India (PCI), the industry body for the digital payments ecosystem in the country, has written to the government urging it to roll back the zero MDR regime for UPI and Rupay debit cards transactions.


PCI in its request to the ministry of finance suggested either reinstating the MDR charges or incentivizing the industry with an amount of Rs 4000 crore. The payments industry hopes to have some relief which can then be used by them to further expand the digital payments infrastructure, it said.

Read more: https://www.apsense.com/article/digital-payment-sector-wants-mdr-to-be-back.html

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