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NPCI's new merchant-charge policy reportedly starts October 15 for certain UPI transactions

Mint compares the merchant charges with credit card and debit card fees, as well as credit-linked UPI.

The HinduTH
MintMI
The Times Of IndiaTT
52 Sources, 20d ago, first seen 20d ago

TLDR

Mint reports that NPCI's new MDR policy will apply to certain UPI transactions from October 15, 2026. Its comparison looks at merchant charges alongside credit card and debit card fees and credit-linked UPI.

Combined views

286.5K

52 Sources, first seen 20d ago

605 likes61 comments62 saves87 reposts

Combined views

286.5K

52 Sources, first seen 20d ago

605 likes61 comments62 saves87 reposts

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Sentiment

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52 Sources

The Hindu@the_hinduThe National Payments Corporation of India (NPCI) has introduced a Merchant Discount Rate (MDR) charge of 0.4% that large merchants will have to pay banks and payment processors on UPI payments they receive in excess of ₹2,000 per transaction, it said in a circular issued on Tuesday (September 15, 2026). https://www.thehindu.com/business/npci-introduces-04-percent-mdr-charge-on-upi-payments-above-rs-2000-exempts-small-merchants-person-to-person-transfers/article71468913.ece20d
Mint@livemintFrom 15 October, NPCI's new MDR policy will apply to certain UPI transactions. Here's how the merchant charges compare with credit card and debit card fees, and credit-linked UPI. https://www.livemint.com/money/personal-finance/upi-mdr-from-october-15-how-merchant-charges-compare-with-credit-debit-card-fees-and-credit-linked-upi-11789522587936.html20d
The Times Of India@timesofindiaNational Payments Corporation of India on Tuesday announced a 0.4% merchant discount rate (MDR) on UPI transactions above Rs 2,000, with an overall cap of Rs 300, and a flat Rs 5 charge for utility payments, fuel purchase, insurance premium, rail tickets, and a host of government services. Despite MDR kicking in from October 15, person-to-person payments, such as UPI transfers to friends, will be exempt; auto-debits and UPI mandates will not attract charges either. Details here 🔗http://toi.in/3X24gZ Catch every update on the TOI App 👉 https://timesofindia.sng.link/Cqhd4/mhw1/at5r #UPI #NPCI #DigitalPayments #UPIPayments #MDR #IndiaNews #BusinessNews #Fintech #DigitalIndia20d
Business Today@business_todayWhy UPI MDR Is Needed For Long-Term Growth, Explains PhonePe CEO Sameer Nigam #UPI #UPIMDR #PhonePe #SameerNigam #DigitalPayments #NPCI #UPICharges #Fintech20d
Economic Times@EconomicTimesExplainer | India's UPI MDR shake-up: What changes and why it matters https://economictimes.indiatimes.com/news/economy/finance/explainer-indias-upi-mdr-shake-up-what-changes-and-why-it-matters/articleshow/134280211.cms20d
Inc42@Inc42💸 @zerodha and @INDmoneyApp are raising concerns over @UPI_NPCI new MDR framework. 👇 From October 15, capital-market transactions will attract a 0.02% UPI MDR, capped at ₹300 per transaction. While the charge may look small, brokers argue that they could end up paying MDR on fund transfers that don't necessarily lead to a trade or generate revenue. Zerodha cofounder and CEO @Nithin0dha has proposed keeping the 0.02% rate but reducing the cap to ₹5–₹10 for broking transactions. Meanwhile, INDmoney founder @ashishkashyap estimated that an investment platform processing ₹200 Cr in daily UPI investments could face an annual MDR cost of around ₹11.52 Cr. 🔗 As UPI moves towards a paid model, brokers are now questioning how the new economics will work for investing. Read the full story here: https://bit.ly/3VcONBp #Zerodha #INDmoney #UPI #Fintech #News20d
The Indian Express@IndianExpressUPI MDR fee hike explained in 10 points: No rollback, Rahul Gandhi vs Centre https://indianexpress.com/article/india/upi-mdr-fee-hike-explained-10-points-rahul-gandhi-pm-modi-10880933/20d
CNBC@CNBCInside India newsletter: The world’s largest real-time payments system will no longer be free for all https://www.cnbc.com/2026/09/17/upi-payments-visa-amazon-phonepe.html?taid=6aab3785a004de00012e04b6&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter19d
businessline@businesslineThe Securities and Exchange Board of India (SEBI) will examine concerns raised by stock brokers over the new merchant discount rate (MDR) on UPI transactions, Chairman Tuhin Kanta Pandey said on Thursday, as the industry has raised concerns on the additional costs that could arise from client fund transfers. https://www.thehindubusinessline.com/money-and-banking/sebi-to-examine-brokers-concerns-over-upi-merchant-charges/article71475866.ece?utm_campaign=mrf-twitter-businessline&utm_source=twitter&utm_medium=social&mrfcid=202609176aabd46cd173fd66fd9116c419d
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    52 Sources

    The Hindu@the_hinduThe National Payments Corporation of India (NPCI) has introduced a Merchant Discount Rate (MDR) charge of 0.4% that large merchants will have to pay banks and payment processors on UPI payments they receive in excess of ₹2,000 per transaction, it said in a circular issued on Tuesday (September 15, 2026). https://www.thehindu.com/business/npci-introduces-04-percent-mdr-charge-on-upi-payments-above-rs-2000-exempts-small-merchants-person-to-person-transfers/article71468913.ece20d
    Mint@livemintFrom 15 October, NPCI's new MDR policy will apply to certain UPI transactions. Here's how the merchant charges compare with credit card and debit card fees, and credit-linked UPI. https://www.livemint.com/money/personal-finance/upi-mdr-from-october-15-how-merchant-charges-compare-with-credit-debit-card-fees-and-credit-linked-upi-11789522587936.html20d
    The Times Of India@timesofindiaNational Payments Corporation of India on Tuesday announced a 0.4% merchant discount rate (MDR) on UPI transactions above Rs 2,000, with an overall cap of Rs 300, and a flat Rs 5 charge for utility payments, fuel purchase, insurance premium, rail tickets, and a host of government services. Despite MDR kicking in from October 15, person-to-person payments, such as UPI transfers to friends, will be exempt; auto-debits and UPI mandates will not attract charges either. Details here 🔗http://toi.in/3X24gZ Catch every update on the TOI App 👉 https://timesofindia.sng.link/Cqhd4/mhw1/at5r #UPI #NPCI #DigitalPayments #UPIPayments #MDR #IndiaNews #BusinessNews #Fintech #DigitalIndia20d
    Business Today@business_todayWhy UPI MDR Is Needed For Long-Term Growth, Explains PhonePe CEO Sameer Nigam #UPI #UPIMDR #PhonePe #SameerNigam #DigitalPayments #NPCI #UPICharges #Fintech20d
    Economic Times@EconomicTimesExplainer | India's UPI MDR shake-up: What changes and why it matters https://economictimes.indiatimes.com/news/economy/finance/explainer-indias-upi-mdr-shake-up-what-changes-and-why-it-matters/articleshow/134280211.cms20d
    Inc42@Inc42💸 @zerodha and @INDmoneyApp are raising concerns over @UPI_NPCI new MDR framework. 👇 From October 15, capital-market transactions will attract a 0.02% UPI MDR, capped at ₹300 per transaction. While the charge may look small, brokers argue that they could end up paying MDR on fund transfers that don't necessarily lead to a trade or generate revenue. Zerodha cofounder and CEO @Nithin0dha has proposed keeping the 0.02% rate but reducing the cap to ₹5–₹10 for broking transactions. Meanwhile, INDmoney founder @ashishkashyap estimated that an investment platform processing ₹200 Cr in daily UPI investments could face an annual MDR cost of around ₹11.52 Cr. 🔗 As UPI moves towards a paid model, brokers are now questioning how the new economics will work for investing. Read the full story here: https://bit.ly/3VcONBp #Zerodha #INDmoney #UPI #Fintech #News20d
    The Indian Express@IndianExpressUPI MDR fee hike explained in 10 points: No rollback, Rahul Gandhi vs Centre https://indianexpress.com/article/india/upi-mdr-fee-hike-explained-10-points-rahul-gandhi-pm-modi-10880933/20d
    CNBC@CNBCInside India newsletter: The world’s largest real-time payments system will no longer be free for all https://www.cnbc.com/2026/09/17/upi-payments-visa-amazon-phonepe.html?taid=6aab3785a004de00012e04b6&utm_campaign=trueanthem&utm_content=main&utm_medium=social&utm_source=twitter19d
    businessline@businesslineThe Securities and Exchange Board of India (SEBI) will examine concerns raised by stock brokers over the new merchant discount rate (MDR) on UPI transactions, Chairman Tuhin Kanta Pandey said on Thursday, as the industry has raised concerns on the additional costs that could arise from client fund transfers. https://www.thehindubusinessline.com/money-and-banking/sebi-to-examine-brokers-concerns-over-upi-merchant-charges/article71475866.ece?utm_campaign=mrf-twitter-businessline&utm_source=twitter&utm_medium=social&mrfcid=202609176aabd46cd173fd66fd9116c419d
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