Sitharaman says no UPI MDR decision has been taken; any levy would target merchants, not users
Finance Minister Nirmala Sitharaman rejected claims that UPI users will face fees, saying no decision on merchant discount rates has been made. Any MDR framework would be considered by NPCI after proposed legal amendments clear Parliament, keeping payment-cost uncertainty in focus for retailers.
Finance Minister Nirmala Sitharaman said no decision has been made on UPI merchant discount rates. Any MDR would apply to merchants, not users, and NPCI’s committee will decide after proposed legal amendments are passed.
Why this matters
The clarification follows signals that Sitharaman said a future UPI MDR would be paid by merchants, while editorials and reader letters argued for calibrated merchant fees on larger transactions.
Omni-channel is accelerating, up +221700% QoQ, keeping payment-cost changes relevant for retailers.