NewzThe All India Mobile Retailers Association has announced a nationwide 'No UPI Day' protest scheduled for October 2. Mobile phone retailers across India intend to suspend UPI transactions on this date to demonstrate their opposition to a proposed 0.4% Merchant Discount Rate (MDR) on UPI payments exceeding Rs 2,000.
The association contends that the implementation of this fee would impose significant financial burdens on small-scale retailers. By staging this protest, the group aims to advocate for the continued maintenance of a zero-MDR policy for UPI transactions to protect the profit margins of independent mobile vendors.
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