Festive relief for retailers as UPI MDR rollout moves beyond Diwali: NPCI to notify a date later
The Supreme Court has directed the Centre, RBI, and NPCI to file an affidavit explaining the factual basis behind the Merchant Discount Rate (MDR) on UPI payments above ₹2,000
Exclusive agency report says Apple Pay eyes October India launch with Axis Bank for credit cards
The new UPI MDR charge on merchant transactions above Rs 2,000 has raised concerns, prompting the government to hold talks with stakeholders
The Centre has also rejected claims by the Opposition that the newly introduced MDR fee on UPI transactions was brought in due to external pressure, calling these 'false and misleading'
The Congress sharply criticised the move, calling it "UPI tax" allegedly imposed under US pressure. Government has vehemently denied these claims, refusing any rollback and stating the fee is crucial for the UPI ecosystem's sustainability
This comes after the new MDR rules stipulate a flat ₹5 charge on merchants when customers pay more than ₹2,000 for certain essential services, such as railways, fuel, and telecom
The annual cost of maintaining UPI is estimated at around ₹20,000 crore, necessitating a move away from indefinite subsidies
The UPI Merchant Discount Rate (MDR) implementation from October 15 is expected to generate substantial profits for the banking sector and Third-Party Application Providers (TPAPs)
Banks and system providers cannot charge fees on UPI and Rupay debit card transactions up to Rs 2000, as per a finance ministry notification. Here is how the rule applies to merchants
India has built remarkable scale in digital payments. The next challenge is to build equal resilience around that scale
The government is introducing a calibrated Merchant Discount Rate for large merchants to fund critical investments in cybersecurity, fraud prevention, and system reliability, while protecting small merchants and person-to-person transactions
Wealth management platforms could be impacted by the proposed amendment to the Payment and Settlement Systems Act, 2007, which introduces a Merchant Discount Rate (MDR) for UPI and credit card payments
The finance ministry on August 8 clarified what would change and what would stay the same in UPI transactions as it prepares to pass the Taxation and Other Laws (Amendment) Bill, 2026 in Parliament
Rapid digital revolution seems to have normalised vast personal data collection, necessitating a focus on transparency, accountability, and genuine user agency for all
India’s apex bank to approach High Court for winding-up petition, but your deposits are reportedly safe, and your Paytm app still works
From tax-free income up to Rs 12 lakh to stricter UPI security and new PF rules, these reforms will directly impact everyday life
Apex bank’s outline for India’s payments ecosystem includes ‘shared responsibility framework’, payments switching service, and more
Dreamplug Paytech Solutions was featured in apex lender’s latest Payment Aggregator (PA) licensee list
No cash, no Indian bank account, no problem—new UPI app for international delegates at India AI Impact Summit 2026
If you are an Indian with a bank account, now would be the right time to check if you are getting charges for ‘mandatory’ SMS alerts
One 97 acquires majority stake in Paytm Financial Services, moves offline merchant payments business to Paytm Payments Services
UPI enhancements are set to revolutionise digital payments in India, with NPCI introducing biometric authentication, multi-signatory accounts, and Aadhaar-based face authentication for PINs
PIX, the Brazilian version of UPI, has caught the attention of US President Donald Trump after it tilted the market against Visa and Mastercard
India's UPI system is a global success story, empowering millions with free digital payments. However, a potential transaction tax threatens to derail this progress, risking economic contraction, reduced financial inclusion, and a return to cash
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