“While we all understand and appreciate the government’s financial inclusion objective, the payments industry works in a very simple way. Whether it is banks or payment companies, we all agree that financial inclusion is a key mandate. But when UPI MDR is zero, a large listed company like Eternal or Policybazaar is also paying zero MDR on all the UPI transactions happening on its platform. It’s crazy,” Taku, who is also the executive director and chief financial officer (CFO) of One MobiKwik Systems, said.
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