New Delhi. National Payments Corporation of India (NPCI) has made an important announcement on Tuesday. Merchant Discount Rate (MDR) will now be applicable on select person-to-merchant (P2M) UPI transactions from October 15. Congress has raised questions regarding this. Congress spokesperson Supriya Shrinet held a press conference. During this, he said, after demonetization, Leader of Opposition Rahul Gandhi had said that demonetisation of cash is being talked about so that money can be put in the pockets of a few people.
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Sapriya Shrinet further said, 'Recovery Man' Modi's havoc continues and this time Narendra Modi is recovering because of surrender to America. In the new recovery plan, a charge of 0.4% will be levied on every merchant UPI payment above ₹ 2,000. If you make a purchase worth ₹5,000, there will be a charge of ₹20. If purchase worth ₹10,000 then ₹40 will be charged.
Earlier UPI payment was completely free, but this was not seen by Narendra Modi and he started the game of extortion here also. This recovery will be made from the youth, poor, students, laborers and women of the country. But now the government is making a noise that this will not affect any customer but will affect the merchant. But we all know that no merchant will bear the increased expenses. Ultimately the merchant will increase the price of the goods and the money will be recovered from the customer.
Supriya Shrinet said, America's payment companies have been continuously opposing India's Zero MDR policy, to which Narendra Modi has surrendered. The US Trade Representative's 2026 report criticized India's UPI and RuPay being free. It was said that America's Visa and Mastercard are incurring losses due to this. America said that India should increase MDR – they said and Narendra Modi did it.
With this said, now the question arises that who are the biggest beneficiaries of the charge imposed on merchant UPI payments above Rs 2,000? Answer: PhonePe, Google Pay…PhonePe and Google Pay have 86% market share, so MDR revenue will increase their earnings and valuation. This means that its biggest beneficiaries will be PhonePe, Google Pay and Amazon Pay – all of these are payment platforms associated with American companies. This means that the coffers of American companies are being filled by collecting money from the pockets of Indians.