{
  "id": 14352099,
  "title": "National Payments body pushes UPI merchant discount rate implementation till after Diwali",
  "url": "https://urgent.news/2026/10/14/national-payments-body-pushes-upi-merchant-discount-rate",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T02:19:47.000Z",
  "source": {
    "name": "Hindustan Times",
    "slug": "hindustan-times",
    "url": "https://www.hindustantimes.com/business/upi-transaction-ncpi-mdr-merchant-discount-rate-diwali-nirmala-sitharamn-indian-economy-101791938119729.html"
  },
  "original_language": "en",
  "account": "The National Payments Corporation of India (NPCI) has postponed the implementation of a 0.4% merchant discount rate (MDR) on select Unified Payments Interface (UPI) transactions above ₹2,000, just two days before the planned rollout. The delay is temporary, and a new implementation date will be announced after Diwali. The NPCI stated that the MDR on select Person-to-Merchant (P2M) UPI transactions will be implemented immediately after Diwahan, with the exact date to be determined separately. The circular setting the MDR of 0.4% on select P2M payments above ₹2,000, scheduled for October 15, had raised concerns among trade bodies and opposition parties who viewed it as a tax and warned it could push people towards cash payments. Merchants were to pay the fee, capped at ₹300 for transactions of ₹75,000 or more. Person-to-person payments and essential services such as railways, telecom, fuel, and insurance were exempted from the fee. The NPCI's decision drew positive feedback from industry bodies, with the India SME Forum president welcoming the postponement as a \"wise and timely decision\" that would protect micro, small, and medium enterprises (MSMEs) during the festive season.",
  "summary": "A circular issued by NPCI last month had set an MDR of 0.4% on select P2M payments above ₹2,000",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}