None
EN
Why UPI payments to large retailers could attract a fee
['Siddharth Upasani', 'Siddharth Upasani Is A Deputy Associate Editor With The Indian Express. He Reports Primarily On Data...', 'Read More', 'Var Template_Content', 'Sso_Login_Box', 'Xwelcome Backorenter The Email Address Or Mobile Number Associated With Your Account To Sign In. Show Passwordsign Innew To The Indian Express Signupxcreate Your Account It Is Quick', 'Easy.Or Show Passwordnextvalidate Otpregisteralready Have An Account', 'Signin', 'Sso_Social_Box', 'Sign In Withgmailfacebookapple']
The Indian Express
According to Guntuku, an MDR of 0.3-0.6% on UPI transactions “broadly corresponds with the estimated ecosystem cost”.
This is important: only 4% of person-to-merchant (P2M) UPI payments in 2025-26 were greater than Rs 2,000.
In 2025-26, more than 24,000 crore UPI transactions worth Rs 314 lakh crore were made.
As such, an overwhelming majority of UPI payments will continue to be free.
Would a fee on large UPI payments change how people make payments?