NPCI to levy 0.4% MDR on UPI merchant payments above ₹2,000 from October 15

NPCI said it will introduce a 0.4% merchant discount rate on UPI payments to merchants above ₹2,000, effective October 15, while payments up to ₹2,000, all P2P transfers and RuPay debit card payments remain free. An UPI Steering Committee is meeting this week to decide whether MDR applies only to large merchants or to all merchant transactions.

Detected & updated continuously · Source: Nebula