LocalCircles Impact: Government removes MDR charges for large merchants
We are pleased to share with you that the announcement made by the Government in Budget July 2019 to make it mandatory for businesses with turn over above 50 crores to accept UPI and Rupay modes of digital payments. Also, the MDR charges for both these digital payments have been brought to zero so the merchant cannot refuse digital payments from consumers nor can they pass on the processing charges to them. the link below has the additional information:
No MDR on UPI and Rupay
For those of you have been in the circle for long, know that since Nov 2016 i.e.demonetisation, LocalCircles has been actively taking up the cost of excessive transaction charges for card transactions and been pushing the Government to get the MDR fee eliminated so the merchants don't push consumers to get cash for their purchase/services.
Also, we hope that in the near future the Government will also include businesses above annual turn over of INR 1 Crore to accept UPI and Rupay digital payments. You are welcome to share your inputs and experiences! more
No MDR on UPI and Rupay
For those of you have been in the circle for long, know that since Nov 2016 i.e.demonetisation, LocalCircles has been actively taking up the cost of excessive transaction charges for card transactions and been pushing the Government to get the MDR fee eliminated so the merchants don't push consumers to get cash for their purchase/services.
Also, we hope that in the near future the Government will also include businesses above annual turn over of INR 1 Crore to accept UPI and Rupay digital payments. You are welcome to share your inputs and experiences! more
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Oct 31
It may be both the sides to insist for cash. Cash accepting establishment must register online the cash transactions with necessary details. That means cash / card purchase/ transaction must be made online verifiable. more
Jan 17
I a. regular sufferer while booking ticket through IRCTC. I endorse all the points raised by Mr. V. Shankar narayanan. And on getting the ticket booked, I have not to only read the slogans of LIC, but also to type these slogans whereas I feel it to be a cheating company. more
Jan 02
It is unfortunate that in spite of government's sops, still charges are being levied on customers and the merchants for digital payments. To cite examples, though Rs.5/- discount was offered digital payment for booking refill cylinders, but while making actual digital payment, levy of 1% was charged nullifying the discount, defeating the very purpose of making cashless economy. In the last 2 months, I noticed no discount was offered but one is not able to make digital payment as error occurs immediately you press the button for online payment. Secondly, if recharge is to be done for IRCTC ewallet, 2% levy is charged even for unreserved ticketing for local trains travel. Coming to booking tickets through IRCTC site, passenger has to pay Rs. 35.40 as convenience fees besides respective bank charges ranging from Rs. 11.40 to certain percentage of ticket cost. From the above, it looks like that government is busy in announcing various schemes or policies but it is not monitering whether they are followed or implemented. Government must address this issue on top priority. more
Dec 31
