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The NCPI circular states that the new charge would be applicable only for person-to-merchant UPI transactions. The National Payments Corporation of India (NCPI) has introduced a Merchant Discount Rate (MDR) of 0.4% that merchants will have to pay to banks and payment processors on UPI transactions over ₹2,000. The NCPI circular, issued on September 15,…
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The story so far: After much speculation and debate, the National Payments Corporation of India (NPCI) has finally released its circular about the additional charges it will allow to be levied on certain UPI payments from October 15, 2026. While the Opposition has argued that this charge will increase prices for consumers, the government has…
Read More “Who has to pay MDR on UPI and who stands to gain the most? | Explained” »
The digital payment growth via Unified Payments Interface (UPI) continues to surge. New Delhi: The digital payment growth continues to surge and Unified payments Interface (UPI) is now adding up to 60 lakh new users every month. The stupendous growth in UPI transactions has been fuelled by the RuPay credit card on UPI, and the…
Read More “UPI Adding Up To 60 Lakh New Users Every Month, Global Adoption Surges” »