Four in five Mumbaikars unwilling to bear MDR fee on UPI payments above ₹2,000: study
A LocalCircles poll indicates that about 80% of people living in Mumbai would avoid using UPI for transactions exceeding ₹2,000 if a 0.4% merchant discount rate (MDR) is imposed on October 15. Respondents said they would prefer paying with debit or credit cards, or using cash, rather than incur the additional charge. The study highlights potential shift in payment preferences.