Sebi reviews new UPI merchant charges with NPCI
In short
Sebi talked with NPCI about new charges on some UPI merchant payments, after brokers said the costs could be a problem.
The reported rule says payments above ₹2,000 have an MDR of 0.4%, and payments of ₹75,000 or more are capped at ₹300. It is still not clear whether the rule will change or when it starts.
What the reporting says
Sebi discussed new UPI merchant charges with NPCI as brokers raised cost concerns. The reported framework sets an MDR of 0.4% on person-to-merchant UPI transactions above ₹2,000 and caps the fee at ₹300 for transactions of ₹75,000 and above. The reporting does not state whether any changes were agreed or when the charges will take effect.
Why it matters
SEBI discussed new UPI merchant charges with NPCI after brokers flagged cost concerns. The published framework says person-to-merchant UPI transactions above ₹2,000 would carry an MDR of 0.4%, with a ₹300 cap for transactions of ₹75,000 and above. The reporting does not say whether the framework is final, who will bear the cost, or how it may affect brokers and merchants.