New Delhi: The Retailers Association of India (RAI) on Wednesday said the government's move to impose a 0.4 per cent Merchant Discount Rate (MDR) could reverse gains in digital payment adoption among small retailers ahead of the festive season.
On Tuesday, ending nearly six years of fully free UPI payments, the government introduced a 0.4 per cent fee on transfers worth more than Rs 2,000 made to merchants through the platform from October 15, while explicitly ring-fencing everyday person-to-person transactions as well as small payments from any charge.
