NPCI Sets 0.4% MDR On P2M UPI Transactions Over ₹2,000

After months of anticipation, UPI operator National Payments Corporation of India (NPCI) has introduced the merchant discount rate (MDR) fees framework for select high-value UPI transactions. MDR on UPI will take effect precisely one month from today, that is, October 15. Under the framework, standard person to merchant (P2M) transactions above ₹2,000 will attract an MDR of 0.4%, capped at ₹300 for high-value payments of ₹75,000 and above.