UPI volume dips 1.8% in September but stays above 24 billion transactions

UPI processed 24.07 billion transactions worth Rs 29.37 lakh crore in September 2026. A 0.4% MDR starts October 15 for specified merchant transactions above Rs 2,000, capped at Rs 300 for transactions of Rs 75,000 and above.

By ·Devil's-advocate pass (an automated argument against this reading)

Source published First seen

Read the source at Entrackr · Newsletterentrackr.com

Newer UPI signal · — may update this storySelected UPI merchant payments above ₹2,000 to face MDR from October 15, report says

What it means for online and offline

Keep UPI central to omnichannel checkout, but verify whether Entrackr’s reported 0.4% MDR from October 15 applies to your merchant transactions above Rs 2,000, capped at Rs 300, before revising payment-cost forecasts.

Signals to track

  • Official confirmation or correction of the reported October 15 MDR rollout
  • Payment-provider notices defining eligible merchants, transactions and billing terms
  • Retailer announcements of payment-specific charges or incentives
  • Monthly UPI volume and value releases following September