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UPI payment fees and Merchant Discount Rate structure changes

Steady: 0 in the last 7 days Updated oct 13

The latest in this situation

  1. NPCI delayed UPI MDR rollout; Urban Company and Freshworks also had recent corporate developments.
  2. The Steering Committee decided to defer the Merchant Discount Rate (MDR) levy, amidst legal challenges and industry criticism.
  3. Centre defers MDR charges, impacting UPI payment processing.
  4. UPI payment system in India faces a delay, according to regulatory sources cited by Reuters.
  5. RAI criticized the new UPI MDR implementation structure.

How it started

RBI provides regulatory supervision and undertakes security initiatives for UPI, while officials discuss usage numbers.

13 reports, 6 independent, last reported Oct 13. The briefing below covers this first event.

AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Well supportedReported by 6 independent outlets

RBI provides regulatory supervision and undertakes security initiatives for UPI, while officials discuss usage numbers.

Who's involved

What this event is mainly about
Reserve Bank of India

How it developed

Newest first. Tap a step to see who reported it.
  1. The Reserve Bank of India is pushing for the adoption of MyUPI, an AI support platform, and enabling contactless transactions through Tap and Pay.Sub-event
  2. Governor discusses UPI cost sustainability; Ministry proposes legislative changes.1 source
  3. The Union Ministry of Finance proposed amendments to the Indian payment system, which the RBI is now regulating under the Payment and Settlement Systems Act.Sub-event
  4. The government has mandated new digital data protection standards, utilizing the Reserve Bank of India for financial oversight.Sub-event
  5. RBI provides regulatory supervision and security initiatives for UPI.1 source

Keep exploring

The entities involved

Related events

Coverage

Newest first; wire copies grouped
7 more outlets ran the same wire story