UPI Fee Shock: Festive Shopping Faces Price Hikes as Retailers Cut Discounts
Retailers and apparel makers are warning that prices could rise or festive discounts could shrink after the government introduced a 0.4% Merchant Discount Rate (MDR) on UPI transactions above ₹2,000, effective October 15. Although retailers are prohibited from directly passing the MDR on to consumers as a surcharge, industry executives say higher prices or reduced…









