Traders Protest UPI Merchant Discount Rate Charges in Madhya Pradesh
What happened
The National Payments Corporation of India introduced a 0.4% charge on person-to-merchant UPI payments exceeding ₹2,000, effective October 15, 2026. Traders in cities across Madhya Pradesh, including Indore and Bhopal, protested this Merchant Discount Rate by covering QR codes and demanding cash payments. These protests were called by the Ahilya Chamber of Commerce and Industry, which represents trade bodies in the region.
From thehindu.com
Why it matters
The new MDR fee increases operating costs for merchants who accept digital payments. Traders are threatening a complete boycott of digital payments, which could impact the overall business environment and operational costs across Madhya Pradesh.
From thehindu.com
Who's involved
- Akshay JainRepresents trade bodies participating in the protests against MDR charges.
- Madhya PradeshThe state where the protests against the MDR charges are taking place.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Akshay JainSpeculative
The trade bodies represented by Akshay Jain could see increased operating costs due to the regulatory action.
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The entities involved
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Madhya Pradesh
state in central India
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Indore
city in Madhya Pradesh, India