UPI Charges From October 15, 2026: What the New 0.4% MDR Rule Means for Consumers, Merchants and Digital Payments in India
India’s Unified Payments Interface (UPI) is entering a new phase after the government and the National Payments Corporation of India (NPCI) finalised a Merchant Discount Rate (MDR) on selected UPI merchant transactions above ₹2,000. The announcement has generated significant confusion online, with many users assuming that UPI itself will no longer be free and that…