NPCI has postponed a merchant discount rate on some UPI merchant payments that was due to start on October 15. A new date will be announced separately.
Under the proposed rules, payments above ₹2,000 to railways, telecom, insurance and fuel merchants would carry a flat ₹5 fee. Large merchants would pay 0.4% on payments above ₹2,000, capped at ₹300. NPCI estimates that about 4% of merchant transactions would be affected. Person-to-person payments are not covered.
