Merchant Discount Rates Mdrs
Govt norms ensure no one makes money in payments space: Axis Bank head
Private sector lender Axis Bank on Wednesday said government mandates on the payments space ensure that no one can make money in the segment. The bank's chief executive and managing director Amitabh Chaudhry feared that smaller entities will not be able to survive amid such diktats. The comments from Axis Bank, which also runs the payments company Freecharge, come amid a debate on whether merchant discount rate (MDR) should be levied on the very popular UPI platform. The government, which wants to popularise digital payments, has been insisting that no charges should be levied. "What the government is doing is that they're taking out the entire P&L (profit and loss) opportunity for us. So if you look at the payments space, no one can make any money in the country at all. You have to use payments as a platform to make money somewhere else," Chaudhry said at the Global Fintech Fest here. The worry is that more and more of such demands will emerge, which will take away revenue and ...
 "Govt norms ensure no one makes money in payments space: Axis Bank head")
Top events today: Gen Rawat to take over as CDS, Railway fare hike, & more
Business Standard brings you top events that are lined up for Wednesday
 "Top events today: Gen Rawat to take over as CDS, Railway fare hike, & more")
Govt to fine firms with over Rs 50 cr revenue for not accepting UPI, RuPay
Companies with turnover of over Rs 50 crore to pay Rs 5,000 per day as penalty
 "Govt to fine firms with over Rs 50 cr revenue for not accepting UPI, RuPay")
Retailers up the ante against revised merchant discount rates
Plan to lobby with the RBI & government, threaten protest
 "Retailers up the ante against revised merchant discount rates")
