RAI has submitted a representation to FM, PM and RBI governor to reconsider the reintroduction of Merchant Discount Rate (MDR) on UPI and RuPay transactions. RAI has proposed that the:

• Cost of UPI transactions is nothing to do with the size of UPI transaction, hence a flat fee of 25paisa per transaction can be introduced across all merchant sizes to sustain digital payment growth.
• Explore subsidies or tax incentives to offset bank costs, ensuring a win-win for all stakeholders.

Please click on the link below to view RAI's submission: https://bit.ly/3R1TEQM