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The Economic Times

UPI transactions above Rs 2,000 to attract 0.4% MDR; check key details

The government will introduce a Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions from October 15, with merchants paying 0.4% on transactions above Rs 2,000 and a maximum fee of Rs 300 for payments of Rs 75,000 or more, National Payments Corporation of India (NPCI) announced on Tuesday.

The new framework is aimed at creating a more sustainable commercial model for the UPI ecosystem, with the proceeds to be used for investments in payment infrastructure, cybersecurity, innovation and customer service.

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