UPI MDR: Who will pay, who won't, and what the new rules mean

The Indian government has clarified new rules around UPI merchant discount rates (MDR), specifying which parties will bear the costs of transactions and which will be exempt from fees under the updated framework.

This Wire brief sits within Fusion42's coverage of Fintech, and 11 sources have reported it between 5 Aug 2026 and 17 Aug 2026.