UPI charges after Diwali: Will customers pay extra on payments above ₹2,000? NPCI's MDR rollout likely in Nov

NPCI, the operator of UPI, is set to introduce Merchant Discount Rates (MDR) on transactions above ₹2,000 in November. The MDR, a 0.4% charge on the transaction amount, is intended to cover the costs incurred by banks and other intermediaries in processing payments. It remains unclear whether customers or merchants will bear the additional cost.