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Wire · operational-macro

India moves closer to allowing merchant fees on UPI payments

4 August 2026 · By · Wire by Fusion42

Published

4 August 2026

Topic

operational-macro

◆ Sectors

Fintech

◆ Geography

India

◆ Source

Read at pakistantoday.com.pk →

◆ Verified

Fusion42 · 5 August 2026 · Fusion42 review

India is moving toward permitting merchant discount rates (MDR) on UPI payments, which have been free for merchants until now, with proposals potentially limiting fees to larger transactions or merchants with higher annual turnovers.

This Wire brief sits within Fusion42's coverage of Fintech, and 40 sources have reported it between 19 Jul 2026 and 22 Aug 2026.

◆ ◆ The Wire takeaway

You face a new revenue line for payment firms as India prepares to charge merchants on higher-value UPI transactions. This change jolts zero-fee UPI's business model and opens doors to monetise large merchants starting now.

◆ Coverage

40 sources · first reported 19 Jul 2026 · latest 22 Aug 2026

◆ Related on Wire

◆ Topics

Fintechupimerchant-feesdigital-paymentsregulatory-changeindia