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Wire · operational-macro

As Govt. mulls MDR on UPI, data shows cash usage quickening

16 August 2026 · By · Wire by Fusion42

Published

16 August 2026

Topic

operational-macro

◆ Sectors

Fintech

◆ Geography

India

◆ Source

Read at pressreader.com →

◆ Verified

Fusion42 · 16 August 2026 · Fusion42 review

The Indian government is considering imposing a Merchant Discount Rate (MDR) on UPI transactions while data shows that cash usage in India is accelerating despite digital payment growth.

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 face potential new transaction costs if you rely on UPI payments as the government mulls MDR charges. This challenge opens a window to pivot towards hybrid payment models that balance cash and digital to protect margins.

◆ Coverage

45 sources · first reported 19 Jul 2026 · latest 5 Oct 2026

◆ Related on Wire

◆ Topics

FintechUPIMDRdigital-paymentscash-usageIndiaregulation