UPI transactions may fall 4% in volume, 10% in value after MDR rollout: Survey
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓UPI transactions may fall 4% in volume and 10% in value after the MDR rollout on October 15.
- ✓LocalCircles CEO Sachin Taparia said, "UPI transaction volumes could drop by around 4 per cent." Many users said they would switch to cash or cards if merchants pass these extra costs to them.
Story at a Glance
- Category
- BUSINESS
- Reported By
- The Statesman
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
LocalCircles CEO Sachin Taparia said UPI transaction volumes could drop by around 4 per cent, while the monthly value of transactions may decline by nearly 10 per cent after the introduction of the charge.
Unified Payments Interface (UPI) transactions could see a decline in both volume and value once the proposed merchant discount rate (MDR) on high-value merchant payments comes into effect from October 15, according to estimates by community platform LocalCircles.
LocalCircles CEO Sachin Taparia said UPI transaction volumes could drop by around 4 per cent, while the monthly value of transactions may decline by nearly 10 per cent after the introduction of the charge.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
The Statesman
Read the full, original unfiltered story directly on the publisher's portal.