Petrol pump dealers in Madhya Pradesh have announced that they will stop accepting UPI payments above Rs 2,000 from October 16, citing the proposed 0.4 per cent Merchant Discount Rate (MDR) on high-value merchant transactions.
The Madhya Pradesh Petroleum Dealers Association said its members would not be able to absorb the additional cost because fuel retailers operate on narrow profit margins. Association president Ajay Singh said the decision was taken after the proposed MDR framework was announced.
