BusinessUPI Merchant Fee to Generate ₹7,500 Crore for Google Pay, PhonePe
From October 15, a 0.4% merchant discount rate (MDR) will apply on UPI transactions above ₹2,000, reintroducing fees after six years. This move is expected to generate around ₹7,500 crore for payment apps like Google Pay and PhonePe by March 2028, according to Bernstein. These firms hold 80% of UPI transaction value and may invest more in technology and rural expansion. Retailers worry about passing costs to customers, but UPI usage remains high.
Abp News·2d ago




