Industrial marketplace Pneucons to stop UPI payments from October 10

Ahmedabad-based industrial marketplace Pneucons will stop accepting UPI payments from October 10, citing the upcoming 0.4% merchant discount rate (MDR) on specified UPI transactions above ₹2,000. Co-founder Pritesh Lakhani said the charge could consume 94% of Pneucons' commission margin. The MDR, effective October 15, will be borne by merchants, not customers, under the new framework.