Bhubaneswar: BJD President and Leader of Opposition Naveen Patnaik on Friday stressed the need to protect the interests of the common people and small traders amid the ongoing debate over changes to charges on UPI transactions.
Speaking to reporters after arriving at Biju Patnaik International Airport here, the BJD President said that the interests of the common man and small traders should be protected.
His remarks came against the backdrop of the Centre’s recently announced framework introducing a Merchant Discount Rate (MDR) on certain UPI merchant transactions. The move has raised concerns among sections of the trading community over the possible financial impact on small businesses and traders who increasingly rely on digital payments.
Naveen’s statement underlined the importance of ensuring that changes to the UPI payment system do not impose additional financial burdens on ordinary consumers and small traders.
Under the new framework announced on September 15, a 0.4 per cent MDR will apply from October 15 to specified person-to-merchant UPI transactions above Rs 2,000, while person-to-person transactions will remain free. Payments to merchants up to Rs 2,000 will also remain free, and small merchants covered under the zero-MDR framework will be exempt. The Centre has said that around 96 per cent of P2M transactions will remain unaffected and that consumers will not be charged the MDR directly.
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