Merchant Discount Rate. A fee charged by banks to merchants for processing credit card and debit card transactions. The potential introduction of MDR on UPI transactions above a certain threshold is a significant regulatory development with financial implications for businesses and potentially consumers.

Unified Payments Interface, a real-time payment system developed by the National Payments Corporation of India (NPCI) that allows instant transfer of funds between bank accounts on a mobile platform.

A rapid delivery service model, often associated with the gig economy, that aims to deliver goods, typically groceries and essentials, within a very short timeframe, often under an hour or even minutes. This model places significant pressure on delivery workers.