MDR Implementation Deferred: The National Payments Corporation of India (NPCI) has decided to implement the Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions only after the festive season (Diwali). The exact start date will be announced later.
Reason for Delay: The deferral aims to prevent disruptions during the upcoming holiday shopping period, when digital retail transactions spike.
About NPCI
Role: An umbrella organization established by the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) to operate retail payment and settlement systems across India.
Core Products: UPI, RuPay, IMPS, NACH, NETC, AePS, and e-RUPI.
