Friday, 24 March, 2023

Digital Payment companies demand reinstating MDR

<p>The digital payments sector is demanding that Merchant Discount Rate (MDR) be reintroduced in the Union Budget. The absence of MDR has left homegrown digital payment service providers facing losses up to ₹5500 cr, while multinational companies benefit from levying those charges. The Payments Council of India (PCI) has urged the Government and Ministry of Finance to reintroduce MDR for UPI and RuPay debit card transactions.<br /> &nbsp;</p>