1 hr ago
Chandni Chowk Traders Question Timing of UPI MDR Fee
A new fee connected to UPI payments has upset jewellery sellers in Chandni Chowk.
These shops often receive many large payments through UPI.
The traders say the decision came at a bad time.
They think the government should have waited until after Diwali.
Diwali is an important shopping period for many businesses.
The shopkeepers believe they may pass the extra cost to customers.
This means customers could pay more when using the payment system.
Mint’s Abhinav Trivedi spoke with shopkeepers and some customers about the issue.
Jewellery traders in Chandni Chowk are unhappy with the decision to impose a UPI MDR fee.
Businesses handling high-value and high-volume UPI transactions say the timing is problematic.
Traders believe the government should have waited until after Diwali.
Shopkeepers expect the cost of the fee to eventually be passed on to customers.
Abhinav Trivedi of Mint examined traders’ and customers’ reactions to the decision.
- Who
- Jewellery traders and other small businesses in Chandni Chowk, along with some customers, are affected; Mint’s Abhinav Trivedi reported on their views.
- What
- Traders are objecting to the timing and perceived intent of a UPI MDR fee decision.
- Where
- The jewellery market in Chandni Chowk.
- When
- The traders say the government should have waited until after Diwali.
- Why
- Traders handle high-value and high-volume UPI transactions and believe the fee will ultimately be passed on to customers.
Key facts
- Issue
- A decision involving a UPI MDR fee
- Affected businesses
- Jewellery shops and other small businesses
- Location
- Chandni Chowk jewellery market
- Transaction profile
- High-value and high-volume UPI transactions
- Traders’ timing concern
- They believe the decision should have been delayed until after Diwali
- Expected impact
- Traders say the cost will likely be passed on to customers
- Reporter
- Abhinav Trivedi, Deputy Editor at Mint
Sources
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