GUWAHATI: The National Payments Corporation of India (NPCI) on Tuesday, October 13, announced that the implementation of Merchant Discount Rate (MDR) charges on select Person-to-Merchant (P2M) UPI transactions has been postponed until after Diwali, keeping the festive season in mind.
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In a press release, NPCI said, “UPI and Services Steering Committee today decided that, keeping in mind the festive season, Merchant Discount Rate on select Person-to-Merchant (P2M) UPI transactions shall be implemented immediately post Diwali at a date to be notified separately.”
According to an NPCI circular issued last month, a 0.4% MDR charge was scheduled to be levied on select P2M UPI transactions above ₹2,000 from October 15.
The charges will now be implemented after Diwali, with NPCI set to announce the revised implementation date separately.
