Ghaziabad/IBNS, Sept. 19 -- Several traders in Ghaziabad have put up hoardings declaring that they will not accept UPI payments over concerns about the Centre's new Merchant Discount Rate (MDR) on specified transactions above Rs. 2,000, media reports said.

The charge will be borne by merchants and will be capped at Rs. 300 for transactions of Rs. 75,000 and above.

Traders in areas including Vijay Nagar, Pratap Vihar, Gaushala Fatak and Crossings Republic have reportedly displayed notices asking customers to carry cash for purchases above Rs. 2,000 from October 15.

The move comes amid growing concern among traders over the additional cost of accepting higher-value UPI payments.

Several traders said businesses operating on thin margins ...