Mobile retailers plan October 2 No UPI Day over proposed MDR charges
AIMRA says mobile retailers will cover UPI QR codes nationwide on October 2, opposing a proposed 0.4% merchant discount rate on eligible UPI transactions above Rs 2,000 from October 15.
What happened
All India Mobile Retailers Association (AIMRA) · AIMRA plans a nationwide No UPI Day on October 2, with mobile retailers covering QR codes to protest a proposed
Key facts
- 0.4% MDR on eligible merchant UPI transactions above Rs 2,000
- MDR capped at Rs 300 for transactions of Rs 75,000 and above
- Rs 5 flat MDR for specified essential and thin-margin sectors above Rs 2,000
- 0.02% MDR for mutual funds, securities and stockbrokers/dealers, capped at Rs 300
- Estimated Rs 2,000-Rs 12,000 monthly loss for retailers processing Rs 5 lakh-Rs 30 lakh in UPI payments
What changed
AIMRA plans a nationwide No UPI Day on October 2, with mobile retailers covering QR codes to protest a proposed 0.4% MDR on eligible merchant UPI payments above Rs 2,000. Retailers warn of margin pressure and seek continued zero MDR.
Why this matters
Prepare for October 2 payment disruption by promoting alternative tender options, training store staff, and quantifying MDR exposure across high-value UPI transactions.
What to watch
- Official notification confirming whether the October 15 MDR proposal proceeds, its transaction threshold, merchant exemptions and fee cap.
- Participation scale and geographic reach of the October 2 QR-code shutdown.
- Statements from RBI, NPCI, finance ministry, banks and UPI apps on MDR funding or subsidy mechanisms.
- Changes in high-ticket UPI volumes, cash sales, card usage and consumer-finance penetration at electronics and mobile outlets.
- Whether other high-volume merchant categories join the protest or announce UPI acceptance restrictions.