MP petrol pump dealers to stop accepting UPI payments above ₹2,000 from October 15

The decision was taken unanimously at a meeting of the MP Petrol Pump Association, which represents 4,700 dealers statewide. Starting October 15, petrol pumps across Madhya Pradesh will stop accepting Unified Payments Interface (UPI) transactions above ₹2,000, citing losses due to the newly imposed merchant discount rate (MDR).The decision was taken unanimously at a meeting of the MP Petrol Pump Association, which represents 4,700 dealers statewide. (AFP)The decision was taken unanimously at a meeting of the MP Petrol Pump Association, which represents 4,700 dealers statewide. Dealers said they will accept only cash for payments above ₹2,000, refusing to bear the 0.4% MDR introduced by the Centre.Also read | Govt preparing system to ensure UPI fee doesn't hit customers: ReportAssociation president Ajay Singh said, “Petroleum dealers across the state are opposing the central government’s new policy. A significant portion of fuel sales happens via UPI, and our fixed profit margins will be hit by this duty.”Deep DiveIn a written statement, the association said that dealers were already paying MDR on credit card transactions. “Now, imposing this duty on UPI will only create further financial loss for us,” the note read.While the association clarified it will not stage protests, it intends to discourage UPI payments by limiting them.Also read | Small merchants may rethink accepting UPI over cash, says Retailers' body on merchant fee row“The move will hit hard the consumers from rural areas as they are were using only UPI for payment,” said an association member.Madhya PradeshGet the latest India News, breaking headlines and real-time updates from across the country. Stay informed about politics, government policies, crime, weather major national developments and Karnataka Bandh LIVE.