PhonePe, Paytm, MobiKwik back UPI MDR above Rs 2,000

No wonder people joke that payment companies don’t make money . This is the reason we don’t make money.” Upasana Taku, co-founder and CEO of MobiKwik, told Business Today Television that payment companies have absorbed the cost of UPI for years without earning transaction revenue after the government introduced MDR. The Merchant Discount Rate (MDR) is the fee charged on eligible merchant transactions to support the economics of a payment system.