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UPI charges explained: Who pays, who doesnt and what it means for you | FAQs

After nearly six years of fully free UPI payments, a new Merchant Discount Rate (MDR) will apply to certain transactions from October 15 , after the Ministry of Finance introduced a 0.4 per cent MDR on person-to-merchant (P2M) UPI transactions above Rs 2,000 on Tuesday. The new framework, however, does not introduce charges for ordinary consumers.

15 Sep 2026 11:56 pm