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Business
Gwalior Traders Ban UPI Payments for ‘No‑UPI Day’ Over MDR Protest
✍️ Amar Ujala · Madhya Pradesh
🗓 23 Sep 2026, 05:01 PM
👁 7
Merchants in Gwalior’s major markets, including the dal market, refused UPI transactions on a self‑declared ‘No‑UPI Day’, accepting only cash to protest the imposed merchant discount rate.
Gwalior’s traders staged a one‑day boycott of Unified Payments Interface (UPI) services on Thursday, labeling it a “No‑UPI Day”. The move was a direct response to the recently announced merchant discount rate (MDR) that would increase the cost of digital transactions for sellers.
The protest was most visible in the city’s dal market and other key wholesale hubs, where shop owners displayed signs urging customers to pay in cash only. Digital payment terminals were switched off and staff were instructed not to accept QR‑code or mobile‑app payments.
Market officials said the cash‑only approach caused a temporary slowdown in transaction speed but did not disrupt overall trade volumes. Traders hope the collective stand will pressure payment processors and regulators to reconsider the MDR policy.
The protest aligns with similar merchant actions in other parts of India, where small‑scale sellers argue that higher MDR erodes thin profit margins.
Authorities have not yet issued a formal response, and the situation remains under observation as the MDR implementation date approaches.
The protest was most visible in the city’s dal market and other key wholesale hubs, where shop owners displayed signs urging customers to pay in cash only. Digital payment terminals were switched off and staff were instructed not to accept QR‑code or mobile‑app payments.
Market officials said the cash‑only approach caused a temporary slowdown in transaction speed but did not disrupt overall trade volumes. Traders hope the collective stand will pressure payment processors and regulators to reconsider the MDR policy.
The protest aligns with similar merchant actions in other parts of India, where small‑scale sellers argue that higher MDR erodes thin profit margins.
Authorities have not yet issued a formal response, and the situation remains under observation as the MDR implementation date approaches.