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Policy● Neutral for Indian equities
UPI MDR kicks in October 15: Why NPCI expects no hit to transaction volumes
The brief
- The new Merchant Discount Rate takes effect October 15
- Payment firms and merchants face MDR changes, while UPI-linked companies may see transaction volumes hold up
UPI MDR rollout and consumer protection
SBI plans to charge MDR on UPI merchant payments above ₹2,000 from October 15, while officials say MDR collections will not cover UPI’s full operating costs and the government and banks will decide a continuing subsidy. The Finance Minister says the fee will be borne within the merchant-payment ecosystem, not passed to consumers; the government is also discussing safeguards with banks.
Thursday, 24 September
- UPI MDR kicks in October 15: Why NPCI expects no hit to transaction volumes