UPI transactions above Rs 2,000 to attract 0.4% MDR; check key details

NPCI will introduce a Merchant Discount Rate on select P2M UPI transactions starting October 15. Merchants will pay 0.4% on transactions exceeding Rs 2,000, with a cap. This move aims to create a sustainable commercial model for the UPI ecosystem. Most everyday UPI payments up to Rs 2,000 will remain free of charges. Consumers will not face any new fees for making UPI payments.