MDR on UPI payments above Rs 2000 will not be passed on to consumers: Report

The proposed 0.4% merchant discount rate (MDR) on UPI payments above Rs 2,000 will not be passed on to consumers, with the fee shared among banks and UPI ecosystem entities; the government will not receive any revenue from this MDR.

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