SC to hear on Sept 28 plea challenging imposition of MDR on UPI payments above Rs 2,000

The Supreme Court of India will hear a plea on September 28 challenging the government’s imposition of a Merchant Discount Rate (MDR) on UPI payments above Rs 2,000, ending years of free UPI transactions for merchants. The plea contests the regulatory process, alleging lack of transparency, statutory backing, and discrimination against low-margin merchants, seeking suspension or reconsideration of the MDR framework.

This Wire brief sits within Fusion42's coverage of Fintech, and 45 sources have reported it between 19 Jul 2026 and 5 Oct 2026.