NPCI defers UPI MDR on select merchant payments until after Diwali; start date to be notified
Economic Times 1 hr ago·13 Oct 2026, 8:52 am
The National Payments Corporation of India (NPCI) has postponed the implementation of UPI Merchant Discount Rate (MDR) charges on select transactions. The fee, which was scheduled to begin on October 15, has now been deferred to a date to be announced after the upcoming Diwali festival.
This move is a relief for merchants and consumers, as it avoids a sudden increase in transaction costs during the crucial festive shopping season. For investors, this decision signals that regulatory bodies are prioritizing market stability and consumer sentiment over immediate revenue generation from the payment ecosystem.
Investors should watch for the official notification on the new start date. The market will likely react to the specific terms of the fee structure, including which transaction types are included, once the details are released.
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