Npci

Govt considers mechanism to check pass-through of MDR to customers

Government may monitor merchants to ensure new UPI charges are not passed on to consumers from October 15

Apps oppose platform fee ban on UPI bill payments under new MDR norms

UPI apps say their Rs 1 share from a Rs 5 MDR on larger bill payments will not cover Bharat Bill Payment System commissions, while smaller transactions earn nothing at all

No foreign influence behind MDR on UPI payments above ₹2,000: FinMin

The finance ministry on Wednesday clarified that there was no foreign influence behind the decision to impose 0.4 per cent Merchant Discount Rate on UPI transactions above Rs 2,000. The clarification follows accusations by some Opposition parties, including the Congress, that the government succumbed to US pressure in taking the decision to impose the Merchant Discount Rate (MDR). "Some claims suggest the change is due to foreign influence. This is false. India's UPI policy decisions are made independently, with the clear goal of building a self-sustaining, inclusive, and affordable digital payments ecosystem," the finance ministry said in a post on X. Since its launch in 2016, UPI has grown into the world's largest real-time interoperable payment system - entirely on India's own terms, it said. UPI processed 24.5 billion transactions in August 2026 alone. To keep this system self-sustainable, secure and innovative, a small fee on high-value merchant transactions helps fund better

0.4% MDR kicks in from October 15 for ₹2,000-plus UPI payments

Sources stress MDR is not a tax on UPI, since the fee is distributed among participants in the payments chain rather than accruing to the government

NPCI consults banks, payment firms on fees for large UPI payments

The consultations ‌come after India changed its payments legislation on Monday, allowing firms to charge transactions of more than ₹2,000

UPI's AI protocol temporarily on hold as NPCI builds safeguards

The focus is on user protection, mapping actual risks from potential liabilities when agents go rogue, and governance standards around evolving technologies like these

NPCI launches two new agentic AI platforms: Key features explained

The platforms are designed to use AI to automate enterprise workflows and processes across India's digital payments ecosystem

UPI sets new record at 24.51 bn transactions in Aug, value at ₹29.82 trn

Transaction volumes rose 3.6 per cent month-on-month and 22 per cent year-on-year, while average daily UPI transactions increased to 791 million

Payment aggregators push for fixed and direct share of UPI MDR

The demand is likely to draw resistance, as payment aggregators are not direct members of the UPI network run by the NPCI

WhatsApp Pay's UPI volumes doubled to 168 million in July, shows data

Moved ahead of players such as Cred, Amazon Pay

NPCI targets Indian diaspora to drive UPI growth across overseas markets

NPCI plans to use the country's vast diaspora to drive global expansion, while also exploring AI-enabled payments through platforms like ChatGPT and Gemini

Sustained investment needed to run UPI reliably: Payments Council of India

The industry body said consumers and small merchants would remain protected from charges, while any merchant service fees would be commercial arrangements with payment providers

Merchant discount rate on UPI: Small apps to bet on customer base

Potential UPI MDR could boost revenues for dominant players like PhonePe and Paytm, while giving smaller apps a viable path to profitability and customer acquisition

Digital payments need a sustainable funding model for future growth

The Lok Sabha's tax amendment Bill opens the door for future UPI merchant charges, reigniting the debate on funding India's fast-growing digital payments ecosystem

UPI clocks record monthly volume as July transactions rise 4.1% to 23.66 bn

Transaction volume rose 4.1 per cent from June and 22 per cent year-on-year as everyday digital payments and growing adoption beyond metropolitan markets supported growth

NPCI plans to mask phone numbers on UPI apps to boost user privacy

Following privacy concerns, NPCI has asked UPI apps to hide phone numbers and make username-based payment IDs the default for new users

What is NPCI's UPI Meta plan that has smaller payment apps concerned?

Smaller UPI apps have urged NPCI to reconsider UPI Meta, warning the proposed one-click checkout feature could further strengthen PhonePe and Google Pay's dominance

Call for change: UPI Meta plan draws pushback from smaller players

In a joint representation, smaller payment apps urged NPCI to widen consultations, warning the proposed checkout framework could entrench the dominance of larger rivals

Offline payment push: Innovation must include stronger consumer protection

NPCI's offline NFC-based UPI can expand digital payments and financial inclusion, but robust security, fraud safeguards and strong consumer protection must underpin its rollout

Banks live on UPI rise nearly fivefold to 731 between 2020 and 2026

UPI added 576 banks over six years as digital payments adoption widened, helping the platform process 22.71 billion transactions in June 2026