UPI MDR may push costs onto consumers despite surcharge ban: Report

The revised fee framework for Unified Payments Interface UPI transactions could indirectly burden consumers through higher retail prices even as merchants are barred from directly passing on the charges a technical report by researchers associated with IIT Bombay has warned calling for changes to the proposed model The report estimates that the Merchant Discount Rate MDR framework could generate around Rs 18000 crore annually for payment service providers However it argues that businesses may incorporate the additional expense into their general selling prices to protect profit margins…