MDR on UPI: Who Gains and Who Pays?
The UPI ecosystem is responding to a major policy shift. NPCI has announced a MDR on Person-to-Merchant (P2M) UPI transactions above ₹2,000. The reactions have been sharply divided. Some analysts project everyday users will be unaffected; others say it marks the end of “zero-cost UPI”. UPI processed 2,451 crore transactions worth ₹29.9 lakh crore in …









