UPI fee row: Govt defers 0.4% MDR on select merchant transactions till after Diwali

Amid concerns and criticism over the proposed merchant discount rate (MDR) on UPI payments, the Government on Tuesday decided to defer its implementation on select merchant transactions until after Diwali.

In a statement, the National Payments Corporation of India (NPCI) said, “The UPI and Services Steering Committee today decided that, keeping in mind the festive season, Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions shall be implemented immediately post Diwali, on a date to be notified separately.”