Government to Monitor UPI Merchant Fees Daily as October 15 MDR Plan Seeks to Shield Consumers
India’s finance ministry is preparing daily oversight of new UPI merchant discount rate arrangements from October 15, as the government negotiates with payment aggregators to ensure the fee is not passed on to consumers. Officials say the revenue framework is intended to support small merchants adopting digital payments while preserving the low-cost appeal that has made UPI the backbone of India’s retail payments system.
