UPI MDR explained: No charges for consumers, 0.4% fee on select merchant transactions above ₹2,000
NPCI has released FAQs clarifying that a 0.4% MDR will apply to specified UPI Person-to-Merchant (P2M) transactions above ₹2,000 from 15 October 2026, while keeping UPI payments for consumers, P2P transfers, and most small value merchant transactions free.
