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29 Oct
NPCI defers UPI merchant charges as industry awaits post‑Diwali rollout
NPCI delayed introducing merchant discount rate (MDR) charges on select UPI person‑to‑merchant transactions, and the payments industry now expects the framework after Diwali rather than the earlier reported January 2027 timeline. The proposed rule would levy 0.40% on eligible P2M transactions above ₹2,000 capped at ₹300, while trade bodies pulled a planned protest and a PIL failed to secure a stay from the Supreme Court; meanwhile UPI volumes and value fell month‑on‑month in September.
India · 1 source