ET Explainer | India's UPI MDR shake-up: What changes and why it matters

India’s UPI payment system is entering a new phase with the introduction of a 0.4% Merchant Discount Rate (MDR) on select merchant transactions above ₹2,000 from October 15, 2026. Consumers will continue to make UPI payments free of charge, while small merchants and most everyday transactions remain exempt.#upi, #upimdr, #upicharges, #digitalpayments, #npci, #india, #upiindia, #merchantdiscount rate, #fintech, #digitalindia, #payments, #banking, #fintechnews, #businessnews, #indianeconomy