Bengaluru, Sept 16 (UNI) Infosys co-founder Mohandas Pai on Wednesday said 96 per cent of UPI transa

Bengaluru, Sept 16 (UNI) Infosys co-founder Mohandas Pai on Wednesday said 96 per cent of UPI transactions would remain unaffected by the proposed Merchant Discount Rate (MDR), dismissing criticism of the move and arguing that the charge was necessary to fund investments in India's rapidly expanding digital payment infrastructure. "96 per cent of transactions will not be impacted by MDR," Pai told reporters, explaining that around 70 per cent of UPI payments were business-to-business and person-to-person transactions, which would not attract the charge. He said small-value retail payments, such as purchases of vegetables, fruits and fuel, would also largely remain…