UPI transaction value may drop 10% after Oct 15 MDR rollout: Survey

Introduction of a 0.4% merchant discount rate (MDR) on UPI payments above ₹2,000 from October 15 may reduce UPI transaction value by 10% and volumes by 4%, as users and merchants resist bearing the cost.

This Wire brief sits within Fusion42's coverage of Fintech, and 45 sources have reported it between 19 Jul 2026 and 5 Oct 2026.