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Wire · operational-macro

'Someone has to pay': RBI Governor on proposal to levy MDR on UPI payment

5 August 2026 · By · Wire by Fusion42

Published

5 August 2026

Topic

operational-macro

◆ Sectors

Fintech

◆ Geography

India

◆ Source

Read at business-standard.com →

◆ Verified

Fusion42 · 6 August 2026 · Fusion42 review

The RBI Governor indicated that the cost of maintaining India's digital payment infrastructure, specifically UPI, requires someone to bear it, as the government considers reinstating Merchant Discount Rate (MDR) charges on high-value UPI transactions.

This Wire brief sits within Fusion42's coverage of Fintech, and 40 sources have reported it between 19 Jul 2026 and 22 Aug 2026.

◆ ◆ The Wire takeaway

Charging fees on UPI payments changes the revenue model for payment providers and banks, opening room for you to adjust pricing or target segments now unburdened by zero fees.

◆ Coverage

40 sources · first reported 19 Jul 2026 · latest 22 Aug 2026

◆ Related on Wire

◆ Topics

Fintechupidigital-paymentsmerchant-feesrbipolicy-change