MobiKwik Backs New MDR Framework, Co-founder Says It Will Spur Next Phase of UPI Growth

The proposed Merchant Discount Rate (MDR) framework for UPI transactions will not impact consumers and is crucial for strengthening the payments ecosystem, said Upasana Taku, Chairperson, Co-Founder, CFO and Executive Director of One MobiKwik Systems. Speaking to NDTV Profit, Taku said the industry had long been advocating for a revised MDR structure, arguing that the next stage of UPI’s growth requires new measures to support ecosystem development. She noted that customers already pay fees on credit and debit card transactions, while person-to-merchant (P2M) transactions above Rs 2,000 account for less than 10% of daily UPI transactions.