ETtech
+ Your AuthorsArchive @ETtech Breaking news, insights & smart analysis on the business of tech & startups from the reporters at The Economic Times. Newsletter - ettech.com/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  https://buff.ly/3hnm9Ey  @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  https://tech.economictimes.indiatimes.com/news/internet/npci-rolls-out-autopay-feature-on-upi-platform/77106202 

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  https://tech.economictimes.indiatimes.com/news/internet/npci-rolls-out-autopay-feature-on-upi-platform/77106202 


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