India · Updated 29 Oct, 08:00 am IST
NPCI defers UPI merchant charges as industry awaits post‑Diwali rollout
Why it matters for readers: It explains why some digital payments might start costing merchants and how that could affect prices.
- NPCI deferred the introduction of MDR charges on select UPI P2M transactions and the rollout now appears likely after Diwali.1
- Under the proposed framework eligible P2M transactions above ₹2,000 would attract a 0.40% MDR, capped at ₹300 per transaction.1
- Retail trade bodies (AIMRA and AICPDF) threatened a ‘No UPI Day’ protest but withdrew it after meeting finance minister Nirmala Sitharaman.1
- A public interest litigation challenged the policy but the Supreme Court declined to stay the proposed MDR charges.1
- UPI transaction count fell about 1.8% to 24.07 billion and cumulative value dropped about 1.5% to ₹29.37 lakh crore in September month‑on‑month.1
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