Wire · operational-macro
UPI volume rises 27% to touch 145 billion in first half of FY27
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Fusion42 · 3 October 2026 · Fusion42 review
UPI transaction volume in India rose by 27% to approximately 145 billion transactions in the first half of FY27, with a 20% increase in transaction value. A new 0.4% merchant discount rate on UPI payments over Rs 2,000 will be introduced from October 15, affecting merchants but exempting person-to-person payments.
This Wire brief sits within Fusion42's coverage of Fintech, and 2 sources have reported it between 2 Oct 2026 and 3 Oct 2026.
◆ ◆ The Wire takeaway
The new merchant discount fee on UPI payments over Rs 2,000 shifts cost to merchants and creates a price sensitivity trigger that you as a fintech founder must navigate in product and merchant acquisition strategies.
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2 sources · first reported 2 Oct 2026 · latest 3 Oct 2026
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