NEW DELHI — In a major relief for small businesses and digital shoppers alike, the National Payments Corporation of India (NPCI) announced on Tuesday, October 13, that the controversial rollout of the Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) Unified Payments Interface (UPI) transactions has been officially postponed. Originally slated to take effect on […]
RBI and NPCI Defend UPI Merchant Discount Rate Overhaul as India’s Digital Payments Face a Defining Test
MUMBAI — India’s juggernaut of digital finance, the Unified Payments Interface (UPI), is bracing for its most consequential policy test since its inception. Following a strategic decision by the National Payments Corporation of India (NPCI) to introduce a Merchant Discount Rate (MDR) on select high-value peer-to-merchant (P2M) transactions, Reserve Bank of India (RBI) Governor Sanjay […]