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‘75% of merchants insulated from UPI MDR’: NPCI CEO

1 source · first seen 18:35 24 Sept · updated 18:35 24 Sept

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Part of a developing story32 updates over 5 days

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

  1. 2 sources
    0.4% MDR to apply to specified UPI merchant payments above ₹2,000 from October 15
  2. UPI MDR: No extension of October 15 implementation date; GST Council may review 18% GST
  3. Govt, IBA to work on mechanism to ensure UPI MDR isn't passed on to consumers
  4. You are here
    ‘75% of merchants insulated from UPI MDR’: NPCI CEO
  5. NPCI says no immediate plan to review MDR, charges needed to fund technology and cybersecurity
  6. 2 sources
    NPCI chief calls for UPI investment to address rising costs and cyber risks
  7. UPI MDR kicks in October 15: Why NPCI expects no hit to transaction volumes

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1 report · earliest 18:35
Financial Express‘75% of merchants insulated from UPI MDR’: NPCI CEO18:35