NPCI says MDR charge has been imposed to save the UPI ecosystem from turning ouroboric
National Payments Corporation of India (NCPI) has said in the Supreme Court that “zero Merchant Discount Rate (MDR)” for all Unified Payments Interface (UPI) transactions was no longer sustainable, as functional costs for the phenomenally expanding digital payment industry in India would burn into the public exchequer. UPI processed as many as 24.51 billion transactions,…
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