Wire · operational-macro
Traders call off October 2 'No UPI Day' after meeting FM Sitharaman over MDR
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Fusion42 · 30 September 2026 · Fusion42 review
Trader bodies AIMRA and AICPDF called off their October 2 'No UPI Day' protest after meeting India's Finance Minister Nirmala Sitharaman regarding the proposed Merchant Discount Rate (MDR) on UPI transactions above ₹2,000, with a phased MDR rollout planned starting FY26-27. The Supreme Court refused to stay the MDR, which is set to take effect on October 15.
This Wire brief sits within Fusion42's coverage of Fintech, and 2 sources have reported it between 30 Sep 2026 and 1 Oct 2026.
◆ ◆ The Wire takeaway
You face new costs on UPI payments above ₹2,000 starting October 15 as MDR takes effect, despite protest withdrawal. Plan now to manage merchant fee impact on pricing or product strategy this fiscal year.
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2 sources · first reported 30 Sep 2026 · latest 1 Oct 2026
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