Wire · operational-macro
UPI transactions remain free for consumers: FM Sitharaman
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Fusion42 · 11 August 2026 · Fusion42 review
Finance Minister Nirmala Sitharaman confirmed UPI transactions remain free for consumers, with any future Merchant Discount Rate (MDR) applying only to selected merchant transaction categories. The amendment to the Payment and Settlement Systems Act enables government notification on which electronic payment modes stay free, while supporting financial inclusion and domestic electronics manufacturing through tax incentives.
This Wire brief sits within Fusion42's coverage of Fintech, and 45 sources have reported it between 19 Jul 2026 and 5 Oct 2026.
◆ ◆ The Wire takeaway
You can continue building payment products for Indian consumers without fearing transaction charges on UPI, but merchant-targeted features must consider future MDR rules. Domestic fintech ventures have new clarity on free transaction protections, enabling extended market access amid government support for local electronics manufacturing.
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45 sources · first reported 19 Jul 2026 · latest 5 Oct 2026
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