UPI payments above Rs 2,000: 76% users may move to cash, cards if MDR is passed on
UPI’s six-year run as a largely free payment option for merchants is set to face a test from October 15, with a 0.4% merchant discount rate (MDR) coming into effect for person-to-merchant payments above Rs 2,000. A new LocalCircles survey suggests the change could push a large number of consumers towards cash, credit cards, debit…