Kerala gold and silver merchants protest UPI MDR October 15
Business
Kerala's gold and silver merchants are hitting pause on business as usual: They're staging a protest on October 15 over merchant discount rates (MDR) on UPI payments.
The traders say these merchant discount rates (MDR) just add more pressure, especially when they're already dealing with rising costs and unpredictable gold prices.
KGSMA urges rethink of digital payments
For smaller jewelry shops, these extra fees are tough to handle.
KGSMA reps call the MDR a "double blow," explaining that higher gold prices don't mean bigger profits because of high investments and slow sales.
The group wants the government to rethink digital payment policies so going cashless doesn't end up hurting local businesses.