LocalCircles Impact: Government removes MDR charges for large merchants

We are pleased to share with you that the announcement made by the Government in Budget July 2019 to make it mandatory for businesses with turn over above 50 crores to accept UPI and Rupay modes of digital payments. Also, the MDR charges for both these digital payments have been brought to zero so the merchant cannot refuse digital payments from consumers nor can they pass on the processing charges to them. the link below has the additional information:

No MDR on UPI and Rupay

For those of you have been in the circle for long, know that since Nov 2016 i.e.demonetisation, LocalCircles has been actively taking up the cost of excessive transaction charges for card transactions and been pushing the Government to get the MDR fee eliminated so the merchants don't push consumers to get cash for their purchase/services.

Also, we hope that in the near future the Government will also include businesses above annual turn over of INR 1 Crore to accept UPI and Rupay digital payments. You are welcome to share your inputs and experiences! more  

View all 209 comments Below 209 comments
Unless Cash is restricted to 200 and 2,000 NO USE OF Even Triple Trillion BUDGET more  
It may be both the sides to insist for cash. Cash accepting establishment must register online the cash transactions with necessary details. That means cash / card purchase/ transaction must be made online verifiable. more  
I a. regular sufferer while booking ticket through IRCTC. I endorse all the points raised by Mr. V. Shankar narayanan. And on getting the ticket booked, I have not to only read the slogans of LIC, but also to type these slogans whereas I feel it to be a cheating company. more  
It is unfortunate that in spite of government's sops, still charges are being levied on customers and the merchants for digital payments. To cite examples, though Rs.5/- discount was offered digital payment for booking refill cylinders, but while making actual digital payment, levy of 1% was charged nullifying the discount, defeating the very purpose of making cashless economy. In the last 2 months, I noticed no discount was offered but one is not able to make digital payment as error occurs immediately you press the button for online payment.

Secondly, if recharge is to be done for IRCTC ewallet, 2% levy is charged even for unreserved ticketing for local trains travel. Coming to booking tickets through IRCTC site, passenger has to pay Rs. 35.40 as convenience fees besides respective bank charges ranging from Rs. 11.40 to certain percentage of ticket cost.

From the above, it looks like that government is busy in announcing various schemes or policies but it is not monitering whether they are followed or implemented. Government must address this issue on top priority. more  
La.. La.. It ONLY SPELLS ONE WORD - TRANSPARENCY!!! ๐Ÿ˜ธ

Which means.. The big cats are liable to pay taxes๐Ÿ˜ผ

Revenue to the govt thru MDR CHARGES.. WHATEVER THAT MDR IS FOREGONE BUT I GUESS THE GOVT WILL EARN A LOT MORE THRU TRANSPARENCY OF SALES REVENUE!

AB THO, FOR EVERY 10 TRANSACTIONS ONLY AT MAX 5 ARE SHOWN IN BOOKS
AND TAXES PAID IS ACTUALLY ONLY AT MAX 50% OF ACTUAL TAXES LIABLE!!

SO WITH THE F**KING TRANSPARENCY IN PLACE.. THIS AT MAX NUMBER IS BOUND TO GO UP & UP๐Ÿ˜ธ

๐Ÿ˜ธ๐Ÿ˜ผ๐Ÿ˜ธ๐Ÿ˜บ๐Ÿ˜ธ๐Ÿ˜บ๐Ÿ˜ธ๐Ÿ˜บ๐Ÿ˜ธ๐Ÿ˜บ๐Ÿ˜ธ๐Ÿ˜บ๐Ÿ˜ธ๐Ÿ˜บ๐Ÿ˜ธ๐Ÿ˜บ๐Ÿ˜ธ more  
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