Merchant fee on Rs 2,000-plus UPI payments to be imposed after Diwali
The National Payments Corporation of India announced that a Merchant Discount Rate (MDR) on UPI payments over ₹2,000 will be implemented after Diwali, which falls on November 8. Although these transactions represent only 4% of volume, they account for two-thirds of the value of person-to-merchant payments. The specific implementation date will be announced later.