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To register as a merchant, a reasonably large (i think) turnover is needed, in a sustained manner ( iirc a few months). The UPI over credit card is primarily t
by samarthr1 3y ago
To register as a merchant, a reasonably large (i think) turnover is needed, in a sustained manner ( iirc a few months).
The UPI over credit card is primarily there for peer-peee merchant transactions...
- unmole 3y ago> To register as a merchant, a reasonably large (i think) turnover is needed, in a sustained manner ( iirc a few months). Nope. Signing up as a merchant is simply the matter of downloading the business version of GPay or Paytm and submitting minimal KYC documents. > peer-peee merchant Did not understand this part.
- samarthr1 3y agoSorry, was on mobile typing that, and turns out I was wrong. The UPI over credit card is only for Peer to Merchant transactions. To be a merchant (As against a peer merchant), you must have a month over month inflow of atleast 50,000 INR, for 3 months after being onboarded as a peer-merchant. [1] I think you were talking about registering as a peer-merchant, not a "proper" merchant! MDR etc cannot be charged on peer-merchants[1], and are essentially peers, but with restricted purpose codes that they can accept money for. [1] https://www.npci.org.in/PDF/npci/upi/circular/2019/Circular%2070%20-%20Introduction%20of%20P2PM%20category%20in%20UPI%20for%20unorganised%20or%20small%20merchants.pdf https://www.npci.org.in/PDF/npci/upi/circular/2019/Circular%...
- unmole 3y agoThe circular is out of date. Having helped people register for for GPay and Paytm business accounts, I know for a fact that this is no longer true.