UPI payments above ₹2,000 will soon attract a Merchant Discount Rate (MDR), but not every merchant will pay the standard 0.4% charge. From October 15, 2026, select sectors such as railways, fuel, telecom, insurance and utility bill payments will have a flat ₹5 MDR on eligible transactions. Consumers, however, will continue to use UPI without paying any transaction fee. In this episode, we explain what the new UPI MDR framework means, who will pay the charge and how it will affect merchants.
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Production: Neha Dhiman
Video Editor: Danish
