The UPI Steering Committee meeting scheduled for October 9 to decide on the Merchant Discount Rate (MDR) did not take place, leaving the implementation in limbo. The NPCI is considering postponing the MDR rollout to January 2027, amid pushback from merchants and fintechs. The MDR, set at 0.4% for transactions above Rs 2,000, was expected to take effect from October 15.
UPI MDR Decision in Limbo as Steering Committee Meeting Called Off
Source: Moneycontrol