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Ashneer Grover weighs in on linking credit card with UPI. 'Great move by RBI but...'

Ashneer Grover echoed sentiments regarding merchant discount rate (MDR). "Merchants will not pay MDR," the Shark Tank India judge and former BharatPe co-founder said.

June 13, 2022 / 03:36 PM IST
Popular as a harsh critic, former BharatPe founder Ashneer Grover is also an inspiration for many contestants who participated in Shark Tank India.

Popular as a harsh critic, former BharatPe founder Ashneer Grover is also an inspiration for many contestants who participated in Shark Tank India.

Ashneer Grover has called RBI's decision to to allow credit cards be linked with the Unified Payments Interface (UPI), "a great move", but the Shark Tank India judge and former BharatPe co-founder has his reservations regarding merchant discount rate (MDR).

"Linking of credit card on UPI is a great move by RBI. Unfortunately it’ll be a non starter unless issuers, especially banks understand that merchants will not pay MDR. So there is no interchange to be made on UPI," Ashneer Grover tweeted.


"Merchants wouldn't want to pay for customer credit."