NPCI

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Banking, Fintech & Insurance 6h ago

MDR on select UPI transactions is not a tax or surcharge, will not hit consumers, Sitharaman says

Finance Minister Nirmala Sitharaman has pushed back against criticism of the proposed Merchant Discount Rate on select high-value UPI transactions, saying it is neither a tax, cess nor surcharge and will not flow to the government. She said the charge is part of the digital payments ecosystem, will be borne by merchants, and is intended to support infrastructure and innovation in UPI.

By RDU Global Correspondent5 min read

Banking, Fintech & Insurance6h ago

Government Says New UPI Merchant Fee Won't Hit Consumers as India Moves to Protect Digital Payments Growth

Government sources on Thursday said the proposed 0.4% merchant discount rate on certain UPI transactions above Rs 2,000 will be borne by merchants, not consumers, and will not flow into government coffers. The move, effective October 15, is aimed at building a sustainable revenue model for the digital payments ecosystem while keeping person-to-person UPI transfers free and shielding most small merchants from the charge.

5 min readRead →

Banking, Fintech & Insurance11 Nov 2026, 05:00 PM IST

NPCI Weighs 0.4% UPI Fee to Recover Up to Rs 15,000 Crore a Year

The National Payments Corporation of India is considering a 0.4% merchant discount rate on certain UPI transactions, a move that could help recover roughly Rs 13,000-15,000 crore in annual costs while keeping most consumer payments free. NPCI chief executive Dilip Asbe said the proposal would largely target large merchants already accepting credit cards, as the payments network seeks to restore investment momentum after six years of zero MDR.

6 min readRead →

Banking, Fintech & Insurance10 Nov 2026, 02:00 PM IST

NPCI Sets Up Tech Subsidiary to Expand Into AI and Blockchain

The National Payments Corporation of India has created a new technology arm, NPCI Tech Solutions Limited, to develop capabilities in artificial intelligence, blockchain and digital financial infrastructure. The move signals a broader strategic push by India’s payments backbone to build technology beyond its core transaction network, with Vishal Kanvaty named managing director and chief executive.

5 min readRead →

Banking, Fintech & Insurance14 Oct 2026, 04:28 AM IST

NPCI Chief Says 0.4% UPI MDR Could Recover Rs 15,000 Crore in Year One

A proposed 0.4% merchant discount rate on large-ticket UPI transactions could generate as much as Rs 15,000 crore in the first year, according to NPCI chief Dilip Asbe, reviving debate over how India should fund its fast-growing digital payments infrastructure. The proposal comes as policymakers weigh the trade-off between preserving UPI’s zero-cost consumer appeal and ensuring the system remains commercially sustainable for banks, payment networks and merchants.

5 min readRead →

Banking, Fintech & Insurance14 Oct 2026, 01:22 AM IST

Paytm, Pine Labs and Mobikwik Sink as NPCI Delays UPI MDR Rollout Beyond Diwali

Shares of Paytm, Pine Labs and Mobikwik fell sharply on Monday after the National Payments Corporation of India delayed the rollout of merchant discount rate fees on select UPI transactions beyond Diwali. The postponement removes a near-term earnings catalyst for fintech firms that had been expecting festive-season support from the new fee structure.

5 min readRead →

Banking, Fintech & Insurance14 Oct 2026, 12:41 AM IST

NPCI Defers UPI Merchant Fee Rollout Until After Diwali, Delaying a Major Payments Shift

The National Payments Corporation of India has deferred the introduction of merchant discount rate charges on select UPI person-to-merchant transactions until after Diwali, pushing back a closely watched policy change in India’s digital payments ecosystem. The delay preserves the current zero-cost structure for merchants in the near term while giving stakeholders more time to assess the commercial and operational impact of any fee framework.

5 min readRead →

Banking, Fintech & Insurance13 Oct 2026, 11:39 PM IST

Paytm, Pine Labs, Mobikwik Slide as NPCI Delays UPI MDR Rollout Beyond Diwali

Shares of Paytm, Pine Labs and Mobikwik fell sharply on Tuesday after the National Payments Corporation of India delayed the rollout of merchant discount rate fees on select UPI transactions beyond Diwali. The move removes a near-term revenue catalyst for fintech firms that had been expecting festive-season support from the proposed charge structure.

5 min readRead →

Banking, Fintech & Insurance13 Oct 2026, 06:48 PM IST

Uncertainty Clouds MDR Rollout as NPCI Official Says No Decision Has Been Communicated

Uncertainty has deepened around the rollout of merchant discount rate, or MDR, after a senior NPCI official said the organisation had not been informed of any deferment. The official also said it was unclear whether the Supreme Court’s direction seeking a short affidavit would affect the implementation timeline. The remarks have added to market confusion over the status of the policy, which has implications for payment economics, merchant costs and the broader digital payments ecosystem.

4 min readRead →

Banking, Fintech & Insurance13 Oct 2026, 03:43 PM IST

Paytm, Pine Labs and Mobikwik Slide as NPCI Delays UPI MDR Rollout Beyond Diwali

Shares of Paytm, Pine Labs and Mobikwik fell sharply after the National Payments Corporation of India delayed the rollout of merchant discount rate fees on select UPI transactions beyond Diwali. The postponement removes an expected near-term earnings catalyst for fintech firms that had been banking on festive-season monetisation momentum.

5 min readRead →

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Co-Occurring Entities

Entities frequently referenced alongside NPCI:

UPI Payment Network(2)Nirmala Sitharaman(1)