The record
Written from the 1 report below. Nothing here is unsourced.
- The NPCI is introducing a 0.4 per cent Merchant Discount Rate on specific person-to-merchant UPI transactions exceeding ₹2,000 beginning October 15.
- Person-to-person payments and smaller merchant transactions will remain free under the updated framework.
- Officials expect the new revenue to support investments in digital payment technologies like soundboxes and artificial intelligence.
- The government has directed banks to prevent these charges from being passed on to consumers.
What to watch next
- Impact of the October 15 MDR rollout on merchant transaction adoption
- Development of voice-based and feature-phone payment innovations supported by new revenues
- Monitoring of potential attempts by merchants to transfer MDR costs to customers
Who said what2
Only words found exactly in the article are shown, attributed and linked to the line they came from.
Dilip Asbe
Managing Director
2 quotes · 1 outlet
“invest back into the ecosystem”
In the article
…stressing that revenues generated through the new structure would support further investment in the digital payments ecosystem. Speaking at the 13th SBI Banking & Economics Conclave 2026, Asbe said the ecosystem would “ invest back into the ecosystem ”, including in technologies such as soundboxes and artificial intelligence-based solutions. “Any change will create some pain, but we believe that as of now, we don't foresee any major impact on the volumes or value.…
“Any change will create some pain, but we believe that as of now, we don't foresee any major impact on the volumes or value. In fact, it will grow manifold because the ecosystem will push back”
In the article
…Speaking at the 13th SBI Banking & Economics Conclave 2026, Asbe said the ecosystem would “invest back into the ecosystem”, including in technologies such as soundboxes and artificial intelligence-based solutions. “ Any change will create some pain, but we believe that as of now, we don't foresee any major impact on the volumes or value. In fact, it will grow manifold because the ecosystem will push back ,” Asbe said. Also read: New UPI rules: What to know about person-to-person payments, monthly quota Under the new framework announced by the government and NPCI, a 0.4 per cent MDR will apply from October 15 to…
Coverage1
All filed from India
Named India · Dilip Asbe · National Payments Corporation of India · State Bank of India
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