UPI MDR Is Here: Who Really Pays? Experts Decode The Big Change From October 15

By NDTV Profit

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India's UPI ecosystem is set for a major change from October 15, 2026, with a new Merchant Discount Rate framework for select merchant transactions above ₹2,000. UPI transactions up to ₹2,000 will continue to remain outside the MDR framework, while specified categories such as railways, telecom, insurance and fuel will attract a flat ₹5 MDR on eligible transactions above ₹2,000. Other eligible P2M UPI transactions above ₹2,000 will attract an MDR of 0.4%, capped at ₹300 per transaction. But who actually pays the MDR? Could merchants eventually pass the cost on to consumers? Why introduce MDR after years of zero-MDR UPI? And could the move create a sustainable revenue model for banks, payment apps and the wider UPI ecosystem? Experts decode what changes from October 15, what stays free and what the new framework could mean for consumers, merchants, banks and fintech companies. #UPI #UPIMDR #NPCI #DigitalPayments #Fintech #UPIPayments #India #UPINews For more videos subscribe to o

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