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Wire · regulatory

Government Proposes MDR on Select UPI Payments

4 August 2026 · By · Wire by Fusion42

Published

4 August 2026

Topic

regulatory

◆ Sectors

Fintech

◆ Geography

India

◆ Source

Read at gktoday.in →

◆ Verified

Fusion42 · 4 August 2026 · Fusion42 review

The Indian government has proposed reintroducing a Merchant Discount Rate (MDR) on select Unified Payments Interface (UPI) and RuPay debit card digital transactions, mainly targeting large merchants, reversing the zero-MDR policy since 2020 to support digital payments infrastructure funding.

This Wire brief sits within Fusion42's coverage of Fintech, and 12 sources have reported it between 19 Jul 2026 and 12 Aug 2026.

◆ ◆ The Wire takeaway

You face rising payment costs if you serve large Indian merchants on UPI. This opens space for fintechs to create differentiated pricing or cost-absorbing models for smaller businesses still exempt from MDR.

◆ Coverage

12 sources · first reported 19 Jul 2026 · latest 12 Aug 2026

◆ Related on Wire

◆ Topics

Fintechmerchant-discount-rateupidigital-paymentsindiaregulation