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1Scan for outdated or missing drivers - takes under a minute2Repair Windows errors before they cause bigger problems3Fix the driver behind crashes, sound loss and screen glitchesWill you have to pay a UPI charge from 15 October? The Ministry of Finance’s 15 September 2026 announcement says consumers should not pay merchant discount rates (MDR) on UPI payments. But the official releases reviewed do not confirm 15 October 2026 as the rules’ start date. Treat that date as unverified unless an NPCI circular or government notification confirms it.
What the announced UPI fee structure covers
The Ministry of Finance’s 15 September 2026 release describes revised MDR for specified person-to-merchant (P2M) transactions. MDR is a charge within the merchant payment ecosystem, not a fee charged to a customer for making a UPI payment. The release says person-to-person (P2P) transfers remain free and that customers are not to pay MDR. Read the Ministry of Finance release.
In plain language, P2P means one individual sending money to another. P2M means a customer paying a merchant. The distinction matters: the announced MDR rates apply to specified merchant-payment categories, not as a single charge on every UPI transfer.
The release sets out the following treatments. It does not provide a complete operational specification for every merchant classification, acquiring arrangement or settlement scenario, so do not assume an unstated edge case is covered by a headline rate.
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| Transaction or merchant category | Announced treatment | Who the charge applies to |
|---|---|---|
| P2P transfers between individuals | Free, irrespective of amount; no transaction fee, platform fee or other charge may be imposed on individuals for sending or receiving money through UPI. | No customer charge. |
| P2M merchant payments up to ₹2,000 | Zero MDR. | No UPI charge to the customer; no MDR for this payment category. |
| Qualifying small merchants receiving through UPI QR codes under the P2PM category | Zero MDR on all transactions for merchants receiving up to ₹1 lakh per month through UPI QR codes. | Merchant exemption; the release does not spell out every operational eligibility rule. |
| Specified P2M payments above ₹2,000 | 0.4% MDR. For transactions of ₹75,000 and above, MDR is capped at ₹300 per transaction. | Merchant-side MDR, not a customer fee. |
| Payments above ₹2,000 in railways, telecommunications, insurance, fuel and agricultural inputs | Flat ₹5 MDR per transaction. | Merchant-side MDR for the listed sectors. |
| Payments relating to mutual funds, securities, stockbrokers and dealers | 0.02% MDR, capped at ₹300 per transaction. | Merchant-side MDR. |
The ₹2,000 threshold, the small-merchant exemption and the ₹75,000 cap threshold are separate rules. A qualifying small merchant’s zero-MDR treatment is not simply another name for the general ₹2,000 threshold.
How the small-merchant exemption works
The release says small merchants, including street vendors, who receive up to ₹1 lakh per month through UPI QR codes under the P2PM category continue to receive zero MDR on all transactions. It does not detail the full operational tests for qualifying, such as how status is determined in every acquiring or settlement arrangement. Merchants needing to establish eligibility should check with their bank or payment acquirer rather than infer it from transaction size alone.
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Does MDR mean a customer can be charged?
No. The Ministry of Finance calls MDR a merchant-ecosystem charge and states that it is not a charge on customers making UPI payments. The release says banks were advised to ensure merchants do not pass MDR on to customers, and UPI application providers are prohibited from platform fees or hidden charges. It also says no transaction fee, platform fee or other charge may be imposed on individuals for sending or receiving money through UPI.
Daily UPI transaction limits are a different matter. The release describes limits set by banks and NPCI—generally ₹1 lakh to ₹5 lakh depending on category—as security and risk-management controls, not thresholds at which a fee begins.
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Is 15 October 2026 a confirmed start date?
Not in the official material cited here. The Ministry of Finance’s 15 September release describes the revised MDR framework but does not state an effective date. An earlier Ministry release dated 8 August 2026 said a committee would decide MDR after Parliament passed the proposed bill. That earlier statement provides context for the policy process, but it does not establish 15 October as the operative date.
For a confirmed implementation date or merchant-specific instructions, look for an operative NPCI circular or government notification. The NPCI UPI circulars index is the relevant official place to check; the cited index does not itself confirm the date or provide the complete rate implementation details in the material available here.
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What the Ministry’s headline percentages mean
The Ministry of Finance says approximately 96% of P2M transactions are unaffected and about 4% of merchant transactions are subject to MDR. These are government-reported estimates, not independent impact measurements. The Ministry also says P2P transactions account for 70% of total transaction value and that 5% of total MDR collections will go to a dedicated small-merchant adoption fund.
As scale context, the Ministry’s 8 August 2026 release reported 2,366 crore UPI transactions worth ₹29.9 lakh crore in July 2026. That figure describes activity in one month; it is not a fee threshold or forecast.
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What merchants should verify before applying a rate
- Confirm whether the payment is classified as P2M and whether the merchant falls under the listed sector or capital-markets categories.
- Check whether the merchant qualifies for the P2PM small-merchant exemption and how the acquirer applies the monthly receipt and QR-code criteria.
- Ask the acquiring bank or payment service provider how the announced MDR is calculated and reflected in settlement for the relevant category.
- Confirm the effective date and operative terms against an NPCI circular or government notification; the 15 October date is not established by the two cited PIB releases.
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