Bhopal, Sept. 19 -- The Madhya Pradesh Petroleum Dealers Association has announced that its members will not accept UPI payments above Rs 2,000 from October 16, citing the 0.4 per cent Merchant Discount Rate (MDR) charge proposed on such transactions.

Association president Ajay Singh said the decision was taken as fuel pump dealers operate on a narrow profit margin and would not be able to absorb the additional cost.

"We have written a letter to our State-Level Coordinator (SLC) regarding the government's decision that an MDR charge of 0.4 per cent will be levied on UPI transactions above Rs 2,000 from October 16. The situation is that, on average, around 100 customers at each petrol pump make transactions above Rs 2,000. This will resu...