+ Your AuthorsArchive @ETtech Breaking news, insights & smart analysis on the business of tech & startups from the reporters at The Economic Times. Newsletter - Jul. 22, 2020 1 min read

Zero MDR costing payment industry a billion dollar every year. Working with government to bring it back in some form: NPCI CEO @dilipasbe #GlobalFintechFest

While the industry understands the need for zero MDR, funds are required for deploying payment systems. Payment Infrastructure Fund will help but it won't be sufficient: @dilipasbe #GlobalFintechFest

We are reviewing with the government whether it is possible to bring back MDR in an appropriate way: @dilipasbe #GlobalFintechFest

At a broad level the payment deployment ecosystem needs a 20 to 25bps incentive for acquiring merchants, deploying devices and securing the systems: @dilipasbe #GlobalFintechFest

The cost of merchant acquisition acquisition costs the industry $500 million to $1 billion: @dilipasbe #GlobalFintechFest

We expect Payment Infrastructure Fund to bring down costs, and the increasing volume of transactions can further help bring down margin: RBI's P Vasudevan #GlobalFintechFest

The concerns of the industry on MDR are genuine. The payments industry is aligned in the view that there should not be zero MDR: RBI's P Vasudevan #GlobalFintechFest

UPI AutoPay is a big milestone for the UPI product roadmap as it allows people to make repeat payments for multiple purposes: @npci_npci COO Praveena Rai #GlobalFintechFest

Mandates on UPI Auto Pay can be set up on a daily, weekly, monthly or yearly basis #GlobalFintechFest

NPCI rolls out Autopay feature on its popular UPI platform  @Ashwin_ET

The Autopay feature is expected to be a game changer for small businesses collecting monthly fees, as it allows them to get in a customisable debit agreement with their customers through a one-time consent 

iSpirt (@Product_Nation) is also in talks with top Indian lenders to create a channel for simplifying digital loans to small businesses much like what UPI did for small-ticket payments 

You can follow @ETtech.


Tip: mention @threader_app on a Twitter thread with the keyword “compile” to get a link to it.

Enjoy Threader? Sign up.

Since you’re here...

... we’re asking visitors like you to make a contribution to support this independent project. In these uncertain times, access to information is vital. Threader gets 1,000,000+ visits a month and our iOS Twitter client was featured as an App of the Day by Apple. Your financial support will help two developers to keep working on this app. Everyone’s contribution, big or small, is so valuable. Support Threader by becoming premium or by donating on PayPal. Thank you.

Follow Threader