National Payments Corporation of India (NPCI) Managing Director and CEO Dilip Asbe today said around 75 per cent of transaction volumes would fall outside the scope of the new merchant discount rate (MDR) regime, as 96 per cent of transactions are below 2,000 rupees.
Addressing the SBI Banking and Economics Conclave in Mumbai, Asbe said there is “huge miscommunication and misinformation” surrounding the MDR regime and that NPCI and the government is trying to provide clear information.
Mr Asbe clarified that the new regime will not hurt UPI volumes because most of the MDR will come from merchants who already accept credit cards and therefore, already pay MDR.
