TPCC warns UPI MDR could raise costs across Hyderabad's trade chain

Hyderabad, Sep 23 (UNI) TPCC spokesperson Syed Nizamuddin on Wednesday demanded withdrawal of the proposed 0.4 per cent Merchant Discount Rate (MDR) on eligible UPI merchant transactions above Rs 2,000, warning that the additional cost could eventually reach traders and consumers through the wholesale-retail supply chain. Addressing a press conference at Gandhi Bhavan, he said merchants might have to absorb the cost through lower margins, reduced discounts or price adjustments. He said the issue was particularly significant for Hyderabad, where UPI transactions in Hyderabad, Rangareddy and Medchal-Malkajgiri districts together amounted to nearly Rs 91,800 crore in July. Nizamuddin said the…