UPI MDR rollout deferred
The National Payments Corporation of India (NPCI) on Tuesday deferred the rollout of merchant discount rate (MDR) on select Unified Payments Interface (UPI) transactions until after Diwali, providing relief to merchants during the peak festive shopping season. The new implementation date will be announced separately.
“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 at a date to be notified separately,” NPCI said in a statement.
