Wire · regulatory
Supreme Court refuses to stay UPI MDR above ₹2000, seeks Centre, RBI, NPCI response
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Fusion42 · 29 September 2026 · Fusion42 review
The Supreme Court refused to stay the new Merchant Discount Rate (MDR) framework charging 0.4% on UPI person-to-merchant transactions above ₹2,000, effective October 15, while seeking legal clarifications from the Centre, RBI, and NPCI.
This Wire brief sits within Fusion42's coverage of Fintech, and 13 sources have reported it between 16 Sep 2026 and 29 Sep 2026.
◆ ◆ The Wire takeaway
You face a new cost on UPI payments to merchants above ₹2,000 starting October 15, changing the economics of digital payments. This opens a door for fintechs to help merchants optimise or absorb these fees before competitors do.
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13 sources · first reported 16 Sep 2026 · latest 29 Sep 2026
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