NPCI Puts Select UPI Merchant Charges on Hold Until After Diwali
New Delhi, October 15: The National Payments Corporation of India has deferred the introduction of Merchant Discount Rate charges on select Person-to-Merchant UPI payments. The rollout, scheduled to begin on October 15, will now take place after Diwali, with the exact date to be announced separately.
NPCI said its UPI and Services Steering Committee decided to postpone implementation keeping the festive season in mind.
Under the proposed framework, eligible UPI merchant transactions above ₹2,000 would attract a 0.4 per cent charge, subject to a maximum of ₹300 per transaction. Known as MDR, this fee is paid by merchants for processing digital payments.
The delay gives merchants, banks and payment service providers more time to prepare for the revised framework during the busy shopping season.
The postponement applies to the implementation date. The proposed fee structure remains unchanged.
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