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Policy● Neutral for Indian equities
NPCI says no immediate plan to review MDR, charges needed to fund technology and cybersecurity
The brief
- NPCI has no immediate plan to review UPI MDR charges
- It said the charges are needed to fund technology and cybersecurity investment
- MDR policy affects payment economics for Indian fintech firms, including PhonePe
- ETMarkets Smart Talk| F&O STT, UPI charges and trading costs: Sandeep Neema on the hidden drag on retail returns
- UPI MDR puts big-ticket retail payments in focus
- Repeated ₹2,000 UPI payments for one purchase? Your bank could flag the pattern: What it means
- Credit card charge looks wrong? Know what to do before paying the bill
- UPI MDR explained: Will mutual fund SIPs and lumpsum investments be affected?
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
- NPCI says no immediate plan to review MDR, charges needed to fund technology and cybersecurity