NPCI delays UPI MDR rollout until after Diwali, citing operational hurdles and the festive period
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- ✓The NPCI postponed UPI MDR charges until after Diwali, the organisation said on October 13.
- ✓The committee cited the festive season and operational hurdles for this delay.
- ✓"MDR on select Person-to-Merchant UPI transactions shall be implemented immediately post Diwali," NPCI said.
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- BUSINESS
- Reported By
- Moneycontrol.com
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
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The National Payments Corporation of India (NPCI) has decided to postpone implementing MDR charges until after Diwali in the second week of November, the organisation said in a press note on October 13.
The UPI Steering Committee meeting discussed the various challenges and cited the festival season in implementing MDR from this week (Thursday).
NPCI runs UPI, the country’s dominant digital payments platform.
"UPI and Services Steering Committee today decided that, keeping in mind the festive season, MDR on select Person-to-Merchant (P2M) UPI transactions shall be implemented immediately post Diwali on a date to be notified separately," NPCI said in a media statement.
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