📷 Image: Wikimedia Commons / Yann (talk)
Business
Gwalior traders boycott UPI on 'No‑UPI Day' demanding removal of MDR
✍️ Amar Ujala · Madhya Pradesh
🗓 23 Sep 2026, 04:16 PM
👁 9
On a self‑declared 'No‑UPI Day', traders across Gwalior’s major markets, including the dal market, refused digital payments and accepted only cash to protest the proposed merchant discount rate on UPI.
Gwalior’s merchants organized a self‑declared "No‑UPI Day" to voice opposition to the newly proposed merchant discount rate (MDR) on the Unified Payments Interface. Across the city’s bustling commercial hubs, notably the dal market and several other key bazaars, shopkeepers turned away digital wallets and QR‑code payments, insisting on cash transactions only.
The coordinated boycott was aimed at pressuring payment service providers and regulators to reconsider the MDR, which traders argue will erode thin profit margins and increase costs for small‑scale sellers. By refusing to accept UPI payments for the day, they sought to demonstrate the potential loss of transaction volume that could result from the fee imposition.
Market authorities observed a noticeable shift to cash handling, with customers complying despite the inconvenience of carrying physical money. No official statement from the National Payments Corporation of India (NPCI) or the state commerce department was available at the time of reporting.
The protest underscores growing tension between India’s digital payment push and the concerns of grassroots merchants who fear that fee structures could undermine their livelihoods. Traders indicated that they will reassess their stance based on any forthcoming policy clarification.
The episode adds to a series of localized merchant actions across the country, reflecting broader debates over the balance between financial inclusion initiatives and the cost burden on small businesses.
The coordinated boycott was aimed at pressuring payment service providers and regulators to reconsider the MDR, which traders argue will erode thin profit margins and increase costs for small‑scale sellers. By refusing to accept UPI payments for the day, they sought to demonstrate the potential loss of transaction volume that could result from the fee imposition.
Market authorities observed a noticeable shift to cash handling, with customers complying despite the inconvenience of carrying physical money. No official statement from the National Payments Corporation of India (NPCI) or the state commerce department was available at the time of reporting.
The protest underscores growing tension between India’s digital payment push and the concerns of grassroots merchants who fear that fee structures could undermine their livelihoods. Traders indicated that they will reassess their stance based on any forthcoming policy clarification.
The episode adds to a series of localized merchant actions across the country, reflecting broader debates over the balance between financial inclusion initiatives and the cost burden on small businesses.