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Wire · operational-macro

UPI MDR fee hike: Opposition demands rollback, claims US pressure

17 September 2026 · By · Wire by Fusion42

Published

17 September 2026

Topic

operational-macro

◆ Sectors

Fintech

◆ Geography

India

◆ Source

Read at indianexpress.com →

◆ Verified

Fusion42 · 17 September 2026 · Fusion42 review

The Indian government announced a 0.4% Merchant Discount Rate (MDR) fee for UPI person-to-merchant transactions above Rs 2,000 starting October 15, sparking opposition allegations of US pressure that the government denies.

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

The government’s move to charge fees on high-value UPI transactions reshapes revenue models in Indian digital payments, so you need to review your pricing strategy and merchant relationships this month.

◆ Coverage

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

◆ Related on Wire

◆ Topics

Fintechupimdr-feedigital-paymentsregulatory-changeindia