NPCI clarifies UPI MDR changes: No fees for consumers, 0.4% charge on select merchant transactions above ₹2,000

Summary

NPCI's new UPI MDR framework, effective October 15, will impose a 0.4% charge on select merchant transactions above ₹2,000, but consumers will continue to make UPI payments for free. NPCI has clarified that there will be no monthly cap or platform fee for users.