MDR on UPI transactions: NPCI announces 0.4% on payments above ₹2,000 — Check details
The National Payments Council of India (NPCI) today announced merchant discount rate (MDR) on select UPI (person to merchant) transactions.
In a statement released on 15 September, the NPCI said a revised UPI Merchant Discount Rate (MDR) framework has been introduced on select merchant transactions.
It keeps UPI free for consumers. The framework keeps 95% of low value UPI transactions below Rs. 2,000 and small merchant transactions (P2PM) completely free and proposes a new fund to support the expansion of UPI acceptance among small merchants.
The initiative will expand UPI acceptance, encourage sustained usage, and accelerate the inclusion of small businesses in India's digital payments ecosystem.
The reasonable MDR charge on high value transactions shall be distributed amongst the UPI ecosystem players which will ensure UPI expansion to new users and merchants, investments into resiliency, cyber security and innovation.
Jocelyn Fernandes is a journalist and editor with nearly 13 years of experience covering the business, corporate, economy and markets beats in news.<br> As chief content producer for around three years at Livemint (Hindustan Times), Jocelyn publishes breaking stories, explainers, features and live blogs on a range of business and economy topics, including the Budget, corporate developments, stock markets, income tax, money and personal finance, cryptocurrency, government policy, impact of US tariffs, international developments and more.<br> Jocelyn's writing philosophy is focused on delivering news in an accurate and accessible format for readers. She thus focuses her news coverage on explainers and FAQs in order to breakdown business, corporate, economic, and policy topics that are of importance to everyday readers.<br> She holds a Bachelors in Mass Media (BMM) and Post Graduate Diploma (PGD) in Journalism and Communication and has previously written for online business and markets news site Moneycontrol (Network18), Business-to-business (B2B) trade publications — the industry magazines Power Today and Solar Today (ASAPP Media), and the national news agency United News of India (UNI).<br> Outside of work, Jocelyn keeps up-to-date with local and international news, enjoys reading fiction books, novels and short stories, and enjoys movies, travelling and art. <br> She can be found on X and LinkedIn, and reached by email: <a href="[email protected]">[email protected]</a> <br> X/ Twitter handle: <a href="https://x.com/scribeJocelyn">@scribeJocelyn</a> <br> LinkedIn: <a href="https://in.linkedin.com/in/jocelyn-fernandes-journalist">LinkedIn</a>
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