Hindustan Times ·
Bharatpe backs UPI MDR charges, says Ashneer Grover's criticism not company's view: ‘No ties with him since 2024’
Bharatpe clarified that former CEO Ashneer Grover's views on the MDR charges do not represent the position of the firm and are in his personal capacity.
Bharatpe, one of India's biggest fintech firms, has backed the new Merchant Discount Rate (MDR) framework introduced by National Payments Corporation of India and said that the move will build a “stronger” and “sustainable” payments ecosystem.
This comes as the company's co-founder and former CEO Ashneer Grover strongly criticised the move and claimed that the cost will be passed on to the customer eventually.
Nalin Negi, CEO BharatPe said, “The new MDR framework proves that UPI will remain free for consumers while building a sustainable, robust and stronger payments ecosystem. Consumers continue to pay no charges for UPI, while micro and small merchants under the P2PM framework remain protected with Zero MDR," reported news agency ANI.