UPI limit is now 5 lakhs per day for big merchant payments

[shsinha]

But these big merchants do have POS installed then why would one go for UPI where a swipe can get one better rewards.

Only 4-6% people has credit card but 50% people has UPI/bank account.

 

[deep@vie]

Only 4-6% people has credit card but 50% people has UPI/bank account.

Sir, we're discussing here about credit card holders only

 

[Akki]

10k - 15k MDR charge will be added to merchant for such big transaction right?

 

[Abhishek012]

10k - 15k MDR charge will be added to merchant for such big transaction right?

Card payment also charge same MDR. 1.25% to approx 2.5%.

If you sell a product which costs Rs 5 lakhs then there is a 99% chance that you will make huge profits.

 

[Akki]

Card payment also charge same MDR. 1.25% to approx 2.5%.

If you sell a product which costs Rs 5 lakhs then there is a 99% chance that you will make huge profits.

But still this is more compared to card charges.

 

[Abhishek012]

But still this is more compared to card charges.

What do you mean by this is more compared to card charges ?

MDR is same for all Visa/Master/RuPay credit card and Credit on UPI.

There is no difference on MDR.

If your merchant provider, for example - Phonepe merchant charge you 1.5% MDR on Credit on UPI (transaction above 2k) then Same merchant provider Phonepe charge you 1.5% MDR on Credit card payment accept from Visa/mastercard/RuPay credit card.

It also depend on your merchant category registered with your merchant account.

for example, if you are selling Grocery and registered your business category grocery on Phonepe then Phonepe merchant account charge you 1.25% Credit on UPI payment acceptance (transaction above 2k) and if you enabled Visa/mastercard/RuPay credit card payment acceptance then Phonepe charge you same MDR 1.25%.

Charges are same for all these payment modes.

 

[Akki]

What do you mean by this is more compared to card charges ?

MDR is same for all Visa/Master/RuPay credit card and Credit on UPI.

There is no difference on MDR.

If your merchant provider, for example - Phonepe merchant charge you 1.5% MDR on Credit on UPI (transaction above 2k) then Same merchant provider Phonepe charge you 1.5% MDR on Credit card payment accept from Visa/mastercard/RuPay credit card.

It also depend on your merchant category registered with your merchant account.

for example, if you are selling Grocery and registered your business category grocery on Phonepe then Phonepe merchant account charge you 1.25% Credit on UPI payment acceptance (transaction above 2k) and if you enabled Visa/mastercard/RuPay credit card payment acceptance then Phonepe charge you same MDR 1.25%.

Charges are same for all these payment modes.

Got it.
I saw in a site where it mentioned MDR for UPI CC is 2% - 3%. So with your reply I felt card charges are 1.25% - 2.5%. Missed the word 'same'.

 

[Abhishek012]

Got it.
I saw in a site where it mentioned MDR for UPI CC is 2% - 3%. So with your reply I felt card charges are 1.25% - 2.5%. Missed the word 'same'.

Here is the Bharatpe Merchant account screenshot, MDR is 1.25% for RuPay CC link UPI for payment above 2k, SS is shared by @Rocky Bhai

Merchant category - Electronic.

Note - you will find many other screenshots on internet where Bhratape charge 1.50% MDR or 1.75% MDR for RuPay CC link UPI for payment above 2k.

MDR is decided by merchant categories and service providers.

Another screenshot i shared from Phonepe merchant account where 1.3% MDR for grocery category (Payment above 2k).

 

[yolofino]

Please check if you have enabled POS and tap-to-pay on the card itself once.

Both POS and contactless settings are enabled since day one.

 

[Abhishek012]

Both POS and contactless settings are enabled since day one.

Paytm pos machine ka model number and shop ka name, location lekar Paytm ko complaint kar do and RuPay ko bhi twitter pe.

Bol dena other credit cards are working. Sirf RuPay JCB CC declined. Koi declined error code aata hai toh shopkeeper se woh error code le lena.

Woh sab error code ka meaning hota hai. Ki kis karan se declined hua hai.

 

[Batman]

Does this also mean that "UPI payment to big merchant" limit is 5L per day on any UPI app? I transferred 2L from IDFC Savings to Zerodha using Gpay, didn't face an issue.

Edit: Never mind. I got error when I tried to transact again. It seems like IDFC has set daily limit for 1L, but if it a single transaction, you can do more than that in one go. So I could do 2L in a single transaction. But got an error the second time.

 

[Abhishek012]

Does this also mean that "UPI payment to big merchant" limit is 5L per day on any UPI app? I transferred 2L from IDFC Savings to Zerodha using Gpay, didn't face an issue.

Edit: Never mind. I got error when I tried to transact again. It seems like IDFC has set daily limit for 1L, but if it a single transaction, you can do more than that in one go. So I could do 2L in a single transaction. But got an error the second time.

Limit is for RuPay credit card link UPI.

By the way UPI IPO limit is also 5 lakh.