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The finance ministry defended the move, stating UPI transactions below ₹2,000 will remain free. Critics argue this is a 'new Modi tax' on the public. | India News
Under the new framework, the government has introduced a 0.4% MDR on P2M (person-to-merchant) UPI transactions above Rs 2,000, capped at Rs 300 for transactions of Rs 75,000 and above.
The government has introduced a 0.4% fee on UPI transfers exceeding Rs 2,000 to merchants from October 15, while explicitly ring-fencing everyday person-to-person transactions as well as small payments from any charge.
Retailers body warned that the UPI fee "could undo years of progress in digital payment adoption" among India's smallest retailers. | India News
UPI has been free for years, but that may be about to change — and the numbers behind it are bigger than they first appear. A new 0.4% MDR on transactions above Rs 2,000 could reshape who ultimately pays for India’s most-used digital payment system.
Effective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4% merchant discount rate with an overall cap of Rs 300. Besides, a flat concessional MDR rate of Rs 5 would be applicable on specific merchant categories such as railways, telecom services, insurance, and fuel for transaction above Rs 2,000.
Effective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4% merchant discount rate with an overall cap of Rs 300. Besides, a flat concessional MDR rate of Rs 5 would be applicable on specific merchant categories such as railways, telecom services, insurance, and fuel for transaction above Rs 2,000.
The 0.4% UPI MDR fee has also been criticised by the opposition.
The plea has been filed by advocate Anjan Datta, challenging the Centre's September 14 notification and the MDR framework announced on September 15. | India News
UPIs new MDR framework will change how large merchant payments are charged. This and more in todays ETtech Top 5.
The government has introduced a 0.4 per cent fee on UPI payments of more than Rs 2,000 made to merchants from October 15. Under this, a merchant discount rate (MDR) of 0.4 per cent is to be levied on person-to-merchant transactions of above Rs 2,000. However, no MDR is to be levied on UPI transactions of up to Rs 2,000.
"The decision had already been taken and there was “no question of reversing it”, the government source said.
A top official, when asked whether the government was considering to roll back the proposed Merchant Discount Rate charges on UPI transactions above Rs 2,000, to be implemented from October 15, said a decision has been taken and there was no question of reversing it.
In a post on X, the Finance Ministry said UPI continues to be free for consumers, with no charges on person-to-person transfers and merchant payments below Rs 2,000.
Starting on October 15, banks and payment applications will begin earning revenue from select merchant UPI transactions. Transactions under Rs 2000 will remain exempt from new fees, while person-to-person transfers and small vendor payments under Rs 1 lakh are still free. Merchants will incur a charge of up to forty basis points for transactions over Rs 2000.
‘Modi ji, roll back the UPI tax. Now’: Rahul Gandhi on new rules | India News
UPI AutoPay payments for OTT subscriptions, bills and SIPs remain outside the new prescribed MDR framework. Here's what the latest rules mean for users. | India News
The National Payments Corporation of India, which operates the UPI network, said the revenue will support investment in infrastructure resilience, cybersecurity, fraud prevention, innovation and customer service.
A new UPI framework will implement fees on certain merchant transactions while keeping person-to-person payments and transactions under two thousand rupees free of charge.
The NPCI has unveiled a new merchant discount rate that introduces a 0.4% fee for UPI person-to-merchant transactions exceeding Rs 2000. This policy change has elicited mixed reactions from industry leaders. While some view it as a step toward enhancing financial sustainability within the digital payments landscape, others raise concerns about its potential effects on investment and trading activities.
While some criticised the MDR charges on UPI transactions, many welcomed the move saying it was much needed. | India News
The government has clarified following confusion over the new framework and whether people would have to paying via UPI. | India News
The finalized MDR framework and threshold structure will take effect from October 15, 2026, for the updating for software and billing systems. | India News
Payments to merchants, or person-to-merchant (P2M) transactions, of up to Rs 2,000, will remain free, but payments above this threshold will attract o.4% MDR.
Person-to-person transfers, small merchants and payments up to ₹2,000 stay free. Above it, merchants pay ₹5 in some sectors or 0.4%, capped at ₹300.
UPI transactions up to Rs 2,000 will remain free for all users. A new Merchant Discount Rate (MDR) will apply to specified merchant payments above Rs 2,000. The revised framework aims to support investment in UPI infrastructure, innovation and cybersecurity. Most person-to-merchant (P2M) transactions will remain unaffected by the changes. The updated provisions will take effect from October 15, 2026.
The MDR for UPI has been finalised by the NPCI with a 0.4% charge agreed for person-to-merchant transactions. This and more in todays ETtech Top 5.
Flat fee of Rs 5 on railways, telecom services, insurance, and fuel transactions over Rs 2000
UPI rate of 0.4% to be levied on merchant transactions above ₹2,000 | India News
Good evening, readers. Here is your quick recap of today's news stories in India, world, entertainment, and sports. | India News
UPI Payment Charges Rules: The government has clarified confusion over UPI payment charges, saying consumers will not have to pay a transaction fee simply for making UPI payments above Rs 2,000. The Rs 2,000 threshold does not mean UPI payments become chargeable beyond that amount. Any future Merchant Discount Rate (MDR) would apply to a limited category of merchant transactions, while person-to-person UPI payments will remain free.
Government has said there will be no charges on UPI transactions up to ₹2,000, but the wider debate over Merchant Discount Rate is not closed.
Saini welcomed all the leaders, including Bhupinder Dhillon and his son Amarveer Singh, to the BJP and said they would be given full respect and honour in the party.
No bank charges on UPI transactions up to Rs 2,000.
India's Unified Payments Interface (UPI) processed a record 24.51 billion transactions worth Rs 29.82 lakh crore in August, as smaller-ticket payments continued to drive growth.Data released by the National Payments Corporation of India (NPCI) showed transacti
New Delhi: Nearly 40 per cent of office occupiers in India are concerned about securing high-quality, well-located office space through 2028, even as companies continue to favour established business districts for future requirements, according to CBRE's 2026
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