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India’s announced UPI merchant discount rate (MDR) framework takes effect on 15 October 2026. It does not add a fee to every UPI payment: person-to-person transfers and person-to-merchant payments of ₹2,000 or less remain free, while certain eligible merchant payments above ₹2,000 can incur a merchant-side deduction. The applicable rate depends on transaction type, value, and the merchant’s category.
What MDR means for UPI payments
MDR is a payment-processing fee distributed among payment-system participants, including banks and payment application providers. The Ministry of Finance says it is not a tax and is not collected by the Government or NPCI. Under the announced framework, it is a merchant-side deduction—not an added charge for the customer.
The policy distinguishes person-to-person (P2P) transfers from person-to-merchant (P2M) payments. Paying a shop, service provider, or other merchant is P2M; sending money to another person is P2P.
What MDR applies to each payment type?
| Payment or merchant category | Announced MDR treatment from 15 October 2026 | What it means |
|---|---|---|
| P2P transfers | Free, regardless of amount | No MDR under this framework for sending money to another person. |
| P2M payments up to and including ₹2,000 | Zero MDR | The merchant does not incur the announced MDR on these payments. |
| Qualifying small merchant in the P2PM category, receiving up to ₹1 lakh per month through UPI QR | Zero MDR on all transactions, including transactions above ₹2,000 | The exemption depends on the merchant’s P2PM classification and monthly QR receipts, not simply on how small the business appears. |
| Other eligible P2M payments above ₹2,000 | 0.4%, capped at ₹300 for a transaction of ₹75,000 or more | The standard announced merchant-side rate. |
| Listed essential and thin-margin sectors, above ₹2,000 | Flat ₹5 per transaction | Government examples include railways, telecommunications, insurance, fuel, and agricultural inputs. The applicable merchant category code (MCC) matters. |
| Capital-market payments | 0.02%, capped at ₹300 | The Government lists mutual funds, securities, stockbrokers, and dealers. |
The Department of Financial Services says the finalized provisions take effect on 15 October 2026. The standard rate and caps are set out in the Ministry of Finance announcement and its FAQ.
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How the standard MDR is calculated
For an eligible standard-category transaction above ₹2,000, the announced MDR is 0.4% of the payment amount, subject to a ₹300 maximum. The Ministry’s examples show the arithmetic:
- ₹3,000 × 0.4% = ₹12 MDR.
- ₹50,000 × 0.4% = ₹200 MDR.
- At ₹75,000 and above, the ₹300 cap applies.
These are MDR amounts, before any applicable tax on the fee. Google Pay for Business illustrates 18% GST applied to the MDR: for a ₹3,000 standard payment, it shows ₹12 MDR plus ₹2.16 GST, a total deduction of ₹14.16 and net settlement of ₹2,985.84. For a ₹100,000 payment, its example applies the ₹300 cap and adds ₹54 GST, for a total deduction of ₹354. These are provider examples, not a guarantee that every provider will display or settle charges identically. Check the provider’s statement and tax invoice for your own accounting treatment.
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When does the announced framework apply?
The framework is announced to start on 15 October 2026. Until then, do not assume a charge appearing on a merchant statement is caused by these future rules. The line item could relate to a different product or service, such as RuPay credit on UPI, a credit line, AutoPay, or a separate SoundPod subscription; Google Pay for Business describes these as having distinct treatment.
Older government material describes the previous zero-MDR position for RuPay debit and BHIM-UPI under legal changes made in January 2020, along with a government incentive scheme for low-value BHIM-UPI P2M transactions in FY 2024–25. That historical policy is not the schedule announced for transactions from 15 October 2026.
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Why two QR payments can have different merchant fees
A UPI QR code alone does not determine the MDR. The outcome can depend on whether a payment is P2P or P2M, its amount, the merchant’s P2PM status and receipts, and the merchant category or MCC. Google Pay for Business says its fee calculation is based on an individual payment above ₹2,000 and the registered business category, rather than monthly or annual turnover. Merchants should confirm their own acquirer’s classification and implementation.
The Government estimates that approximately 96% of merchant transactions will remain unaffected. That is the Government’s estimate based on its data analysis, not an independently verified projection.
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Can a merchant pass MDR on to customers?
No. The Government says banks have been advised to ensure MDR is not passed on to customers, and says UPI app providers may not impose platform or hidden charges for these payments. Google’s merchant guidance gives the same instruction. A customer should pay the listed price, not a separate surcharge for using UPI under this framework.
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- Check the date. The announced MDR framework begins on 15 October 2026; a charge before that date should not automatically be attributed to it.
- Identify the payment type. Determine whether it was a P2P transfer or a P2M purchase, and whether the payment used direct bank-account UPI or another product such as RuPay credit on UPI, a credit line, AutoPay, or a device subscription.
- Check the transaction amount and merchant category. For eligible standard P2M payments, the announced rate applies above ₹2,000; special sector and capital-market categories have separate rates. Ask the acquirer to confirm the registered MCC.
- Confirm any P2PM exemption. Ask whether the merchant is classified in the P2PM category and qualifies under the monthly UPI QR receipts condition; do not infer eligibility from business size alone.
- Read the provider statement. Separate MDR, any GST on the MDR, and charges for other services. If the fee remains unclear, ask the bank, acquirer, or payment provider to identify the line item and applicable category.
A QR standee or sticker does not set the fee or change a merchant’s category or exemption. Google Pay for Business says its customers do not need to replace existing QR standees or stickers for the announced change.
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What is not yet specified about the dedicated fund?
The Department of Financial Services says the detailed operational framework for the dedicated fund was to be finalized in consultation with the RBI within three months of 15 September 2026. The cited FAQ does not establish final eligibility, disbursement mechanics, or a start date, so those details should not be assumed.
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