The Latest Breaking News from NPCI

BHIM MyUPI payments launched: 9 services users can access at one place, from checking transactions to managing UPI Autopay

In a significant move towards enhancing digital payments, NPCI BHIM Services Limited has introduced MyUPI, a conversational AI assistant seamlessly integrated within the BHIM Payments App.

The Economic Times · Sep 23

NPCI says GST on UPI MDR will not burden small merchants

NPCI states GST on UPI Merchant Discount Rate is not a burden. Transactions under two thousand rupees have zero MDR and no GST. Over ninety-six percent of merchant transactions are below this threshold. Merchants can adjust GST paid on MDR against their tax liability. Small merchants receiving under one lakh…

The Economic Times · Sep 22

UPI’s new MDR pot: 5% of collections to be used for bringing small merchants online

NPCI will introduce a dedicated fund from MDR proceeds for small merchants. This fund aims to expand digital payment infrastructure in smaller Indian cities. Eligible small merchants receiving under Rs 1 lakh monthly will remain exempt. The new framework supports UPI's long-term sustainability and rural expansion efforts.

The Economic Times · Sep 20

Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edge

India's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI transactions. This move aims to foster domestic competition and create a sustainable revenue model. Small merchants and certain transactions will remain exempt from the new charges. The government emphasizes…

The Economic Times · Sep 17

MDR could push small merchants, price-sensitive consumers back towards cash: GTRI

Effective October 15, UPI payments to merchants (P2M) above Rs 2,000 will attract a 0.4 per cent MDR with an overall cap of Rs 300. Besides, a flat concessional MDR of Rs 5 would be applicable on specific merchant categories such as railways, telecom services, insurance, and fuel for transaction…

The Economic Times · Sep 16

From UPI to cash? Retailers warn new MDR could hit small merchants ahead of festive season

Retailers Association of India warns new UPI fees could reverse digital payment gains. Small merchants may shift transactions back to cash, impacting government formalisation efforts. The association argues UPI debit transactions should not incur merchant discount rates. They propose the government should underwrite UPI network costs instead.

The Economic Times · Sep 16

UPI MDR Explained: 5 Things Users Must Know Now

A new UPI rule has raised one big question among users: Will paying through UPI now cost extra? The answer is not as alarming as the headlines may suggest. From October 15, 2026, a new Merchant Discount Rate, or MDR, will apply to specified merchant transactions above ₹2,000. But there…

MyLifeXP · Sep 16

UPI MDR explained for investors: How will new charges impact your mutual fund SIPs and stock investments?

From October 15, MDR will apply to select UPI person-to-merchant payments above Rs 2,000, but not to all such transactions. UPI AutoPay and mandates will be treated separately, while mutual funds and capital-market payments will attract a lower MDR. Importantly, the charge will be borne by merchants, not customers, raising…

The Economic Times · Sep 16

UPI charges from October 15; Activate’s maiden fund

Happy Wednesday! The NPCI has announced charges on select UPI merchant payments. This and more in today's ETtech Morning Dispatch.

The Economic Times · Sep 16

Mutual funds, stocks UPI payments to attract 0.02% MDR under new NPCI framework

New UPI rules will introduce a 0.02% merchant discount rate for capital market transactions. This special rate applies to mutual funds and investment platforms, capped at Rs 300. Standard person-to-merchant UPI payments above Rs 2,000 will attract a 0.4% charge. Other sectors like railways and telecom will see a flat…

The Economic Times · Sep 15