Business Standard ·
Economy, business and finance
Apps oppose platform fee ban on UPI bill payments under new MDR norms
UPI apps say their Rs 1 share from a Rs 5 MDR on larger bill payments will not cover Bharat Bill Payment System commissions, while smaller transactions earn nothing at all
Third-party UPI apps have objected to the ban on platform fees under the new merchant discount rate (MDR) framework, saying it will leave them losing money on every bill payment they process through the Unified Payments Interface (UPI), sources said.