KOLKATA: The All India Mobile Retailers Association (AIMRA) has called for a nationwide 'No UPI Day' protest on October 2 against the proposed 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, saying the charge would put additional burden on small retailers.
As part of the protest, retailers across the country will cover UPI QR codes, sound boxes and payment scanners with black cloth to symbolically register their opposition to the proposed charge, the association said in a statement.
AIMRA said the proposed MDR would affect the “already thin” profit margins of micro, small and medium enterprises, shopkeepers and independent retailers, who rely on digital payments for day-to-day transactions.
"One Nation, One Trade Fraternity, One Voice," the association asserted in the statement, urging policymakers, financial institutions and the National Payments Corporation of India (NPCI) to reconsider and withdraw the proposed 0.4 per cent MDR.
The association said retailers supported the adoption of digital payments, but argued that imposing charges on routine digital transactions would increase the cost of doing business for merchants.
AIMRA said the October 2 protest was intended to highlight the concerns of the merchant community over transaction charges, and seek measures to ensure that digital payments remain accessible to small businesses.
