Charges for merchants on UPI will lead to charges for consumer

merchants will be charged 1.1% on traxn above INR 2000. Though govt and industry are saying this will not impact consumer, they are dead wrong. MDR charges was best example.

Visa & Master card networks provide Payment Guarantee and hence charge MDR. If there is a fraud, I can stop payment immediately. Not required to go to Police and Register an FIR.

What does UPI charge the MDR for ?

People will reduce usage, mark my words. more  

View all 7 comments Below 7 comments
NPCI and fin-techs created the infrastructural frame for the UPI to function, giving commercial activities a huge fillip - 10 lakh crores rupees every month! Imagine earlier going to banks and getting demand drafts made, additionally incurring the charges and overheads! Overheads too. Payment mechanism highly integrated, instantly almost. Internationally merchants adopting UPI! more  
Every system costs money to run, maintain and improve. Who will bear that? A 1.1% charge should not be bone of contention. There is nothing man-made that is free forever. If it is free for you, someone is paying for it. Merchants will do as they did with credit card charges which are in fact higher. Costs may not really go up based on new merchant charges. Digital will boom and grow further. It is not sensitive to these charges. more  
Traders will find way to pass on this charge of 1.1% to the consumers. Either the charge may be withdrawn or the transacion limit may be increased to at least Rs. 10000/- or better still to 20000/- as the value of rupee is declining so fast that the limits of 10K oer20 K will be reached within an year or two. more  
It is okay. Payment intermediary companies require compensation. If monthly people do about Rs.800 crores worth transactions on UPI, yes the statistics measured this, intermediaries need their compensation too. So much currency printing and money transportation costs saved! Again the INR 2000 threshold, above which 1.1% transaction charg accrues, also there! more  
मै यह समझने में असमर्थ हूँ की एक तरफ़ तो सरकार डिजिटल लेन - देन को बढ़ाने की बात करती है दूसरी तरफ़ इस तरह के चार्जेज़ जो ग्राहक को ही देना पड़ेगा की बात करती है - क्रेडिट कार्ड व्यापारी तब स्वीकारते है जब उन्हें दो प्रतिशत ऊपर से दिया जाय तो अब UPI भुगतान पर भी वे ग्राहक से ही लेंगे ।पेट्रोल हो या गैस या बिजली बिल इन के द्वारा पहले से ही क्रेडिट कार्ड पर अधिक लिया जा रहा है - लगता है पुनः हमें कार्ड के स्थान पर नगद भुगतान की तरफ़ वापस जाना होगा? more  
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