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Payments

NPCI thought it was riding a tiger, but failed to see the leash called MDR tied to it

The zero-MDR regime will make a dent of around 20% on NPCI’s revenue. As there won’t be any incentive, the overall interest of the payments ecosystem to adopt UPI and RuPay will wither. Who will benefit? Multinational card networks such as Visa and Mastercard.
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artisingh
14 Feb 2020 10 Mins Read 4 comments
Dilip Asbe, CEO, National Payments Corporation of India; courtesy of NPCI
Dilip Asbe, CEO, National Payments Corporation of India; courtesy of NPCI
Fact: The Unified Payments Interface (UPI) has been on a tear in the last three years — starting off with a humble 100,000 transactions a month worth INR3 crore in August 2016 to 1.3 billion transactions valued at INR2.2 lakh crore in January 2020. Fact: RuPay cards have been growing faster than other debit cards in the country.
a WhatsApp message, a spokesperson said the company doesn’t have any comment to make. “If the situation remains the same in the next three-four months, NPCI will decide what can be done next,” the person aware of the NPCI functioning says. The payments ecosystem is waiting. ( Graphics by Sadhana Saxena and Mohammad Arshad)
Fact: The Unified Payments Interface (UPI) has been on a tear in the last three years — starting off with a humble 100,000 transactions a month worth INR3 crore in August 2016 to 1.3 billion transactions valued at INR2.2 lakh crore in January 2020. Fact: RuPay cards have been growing faster than other debit cards in the country. a WhatsApp message, a spokesperson said the company doesn’t have any comment to make. “If the situation remains the same in the next three-four months, NPCI will decide what can be done next,” the person aware of the NPCI functioning says. The payments ecosystem is waiting. ( Graphics by Sadhana Saxena and Mohammad Arshad)

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