India is breaking this dominance by government backed Rupay and UPI payment methods. Both have 0 MDR charges. Rupay is a direct alternative to Visa and MasterC

India is breaking this dominance by government backed Rupay and UPI payment methods. Both have 0 MDR charges. Rupay is a direct alternative to Visa and MasterCard. UPI is peer to peer payment system for any bank account linked with a phone and debit card. So far government has been successfully in both of these endeavours. https://en.wikipedia.org/wiki/RuPay?wprov=sfla1 https://en.wikipedia.org/wiki/RuPay?wprov=sfla1 https://www.business-standard.com/article/economy-policy/rupay-s-market-share-tops-60-in-total-cards-issued-says-rbi-report-121012800046_1.html https://www.business-standard.com/article/economy-policy/rup...