New Delhi, Sept. 17 -- The Retailers Association of India (RAI) and Clothing Manufacturers Association of India (CMAI) have raised concerns over the reintroduction of a 0.4 per cent Merchant Discount Rate (MDR) on UPI person-to-merchant transactions above Rs 2,000, ahead of the festival season.

The MDR will be capped at Rs 300 for transactions of Rs 75,000 and above. RAI said it will take up the issue with the National Payments Corporation of India (NPCI) and the Ministry of Finance.

RAI Seeks Graded MDR Structure

RAI has called for a graded framework that distinguishes between debit-linked and credit-linked UPI transactions and pairs any merchant charge with incentives to encourage small retailers to continue accepting digital payment...