Keep it free
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓From October 15, businesses will pay a fee on UPI receipts above Rs 2,000.
- ✓In FY2026, 55.5 crore Indians made 24,162 crore UPI transactions.
- ✓While the government says this fee helps run the system, many worry it will raise prices.
Story at a Glance
- Category
- MARKET
- Reported By
- The Telegraph
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
UPI can be funded in several ways while keeping it free for users. Why are these options not being explored? The role of US commercial interests in India's payment systems deserves attention
UPI succeeded by making digital payments as easy as cash. A tea seller can receive Rs 20 instantly, without finding change, counting notes or paying a fee. In FY2026, 55.5 crore Indians made 24,162 crore UPI transactions worth Rs 314 lakh crore -- about 91% of India's GDP.
Free payments were central to UPI's success. That will change for many businesses. From October 15, they will have to pay a fee called the Merchant Discount Rate (MDR) on UPI receipts above Rs 2,000.
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The Telegraph
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