#zeromdr — Public Fediverse posts

Despite #ZeroMDR , #RuPay transactions start slipping https://www.financialexpress.com/industry/banking-finance/despite-zero-mdr-rupay-transactions-start-slipping/1930969/ via @FinancialXpress

Digital payments: Who cares about #MDR? #MDRWars #ZeroMDR https://www.indiatoday.in/magazine/up-front/story/20200309-digital-payments-who-cares-about-mdr-1650540-2020-02-28 via @indiatoday

Diff shows what #NPCI wanted to hide from public - Pricing of txns. https://draftable.com/compare/towfiPipAKEy

Its anyway irrelevant in context of #ZeroMDR now, but the fact, NPCI took efforts to hide pricing tells so much on #Openness.

E-payments industry counts the costs after #ZeroMDR jolt http://toi.in/1ZLhPa/a24gk via @timesofindia

#ZeroMDR as a way to kill fintech profitability and move them to Account Aggregator based data businesses.(digital financial data footprints selling projected as "data empowerment")

@[email protected] 's public marketimg pitch at @[email protected]

ATTN: Finance Journos-

This is real #ZeroMDR.

Cost of boosting wealth of political parties via anonymous corporate donations via #ElectoralBonds falls on tax payers.

This is equivalent to Merchant Discount Rate(MDR) in payments.

Ask for comments from payment industry.
---
RT @anivar
Tax payers pay for #ElectoralBonds
bank charges and cost.

All the costs associated with electoral bonds, including banking fees…
https://twitter.com/anivar/status/1222707283475304448

Banks approve reduced fees for #UPI, #RuPay - Times of India #ZeroMDR

https://m.timesofindia.com/business/india-business/banks-approve-reduced-fees-for-upi-rupay/articleshow/73717522.cms

Most #ZeroMDR business reporting ignores role of MDR in consumer rights protection.

#ZeroMDR means payment service providers & intermediaries have an escape route from consumer rights protection. Consumer is the commodity here.

Good thread on #ZeroMDR push and aligning incentives
---
RT @artijourno
Since #zeroMDR is the talk of the town now, here are some thoughts on how these decisions are impacting NPCI:
https://twitter.com/artijourno/status/1220675913806794753

Banks push #NPCI to remove #UPI charges (specifically switching fees in #ZeroMDR era) http://toi.in/HuzvKZ65/a24gk via @TOIBusiness

The third and IMO *real* #ZeroMDR move that is in effect from 01.01.2020 is actually NEFT. Much has not been spoken about on this, but this has serious implications for industry. Together with 24x7 availability, NEFT can now pose serious challenge to #UPI P2P

The 2nd announcement was stopping the subsidy meant for small merchants for low value transactions. Incidentally, this circular incorrectly linked the CBDT circular to imply #ZeroMDR on the modes to everyone (as against to only 269SU entities) and cancelled it.

Secondly, since the #ZeroMDR applies only for these prescribed modes for these companies, they will not offer any special discount but instead get to profit extra, because banks now don't earn a revenue of these txns.

https://www.incometaxindia.gov.in/communications/circular/circular_32_2019.pdf - Link to notification.

269SU makes #ZeroMDR, but important to note its applicable only for large businesses and only for "prescribed modes"

Prescribed modes came via https://www.incometaxindia.gov.in/communications/notification/notification_105_2019.pdf

#CashlessConsumer Much has been talked about #ZeroMDR amidst lot of panic based misinformation, half truths.

1.1.2020 marked 3 significant changes to payment industry all of which have deep implications. #Thread