Pneucons to stop UPI on orders from Oct. 10
In short
Pneucons said it will stop UPI payments on orders from October 10. The report says this follows a 0.4% MDR charge on orders over ₹2,000, and the co-founder said it was hurting margins badly.
This matters because buyers may need to use other payment methods. It is not stated whether the change affects all orders or only some orders.
What the reporting says
Pneucons said it will discontinue UPI payments on orders from October 10 after a government-imposed 0.4% MDR charge on orders over ₹2,000. The co-founder said MDR ate 94% of the company’s margins, according to the publisher summary. What is not stated is whether other payment options will remain unchanged or how customers will be affected beyond the UPI shift.
Why it matters
Pneucons plans to remove UPI as a payment option from October 10 after a 0.4% MDR charge was imposed on orders above ₹2,000. The co-founder said the fee took 94% of margins, according to the summary. The immediate effect appears to be a payment-policy change, but the reporting does not state customer volume, broader business losses, or whether the policy covers all products.