UPI MDR new rules: 0.4% charge above ₹2,000, ₹300 cap on high-value payments; see FAQs

UPI transactions above ₹2,000 will attract a 0.4% Merchant Discount Rate (MDR) from October 15, 2026, while the fee will be capped at ₹300 for payments of ₹75,000 and above. The new framework will keep UPI free for consumers and exempt eligible small P2PM merchants, as NPCI seeks to build a more sustainable payment ecosystem.