NPCI defers 0.4% MDR on UPI transactions above Rs 2,000 until after Diwali; traders welcome the move
In a relief to UPI users, the proposed levy of a Merchant Discount Rate (MDR) of 0.4 per cent on transactions above Rs 2,000 has been deferred, with the National Payments Corporation of India (NPCI) saying on Tuesday that a new implementation date would be announced after Diwali.
According to an NPCI circular issued last month, the 0.4 per cent MDR was due to be levied on person-to-merchant (P2M) UPI payments above Rs 2,000 from October 15.
