1 min readUpdated: Sep 15, 2026 07:01 PM ISTThe government had earlier sought to allay concerns over UPI fees.The National Payments Cooperation of India (NCPI) on Tuesday announced that UPI payments of over Rs 2000 made to a merchant account will now attract a 0.4 percent fee.Regarding Merchant Discount Rate (MDR) on Select UPI (P2M) TransactionsPlease refer to the FAQs here: https://t.co/DTOZFVHAVB pic.twitter.com/4HMU0YZ2AC— NPCI (@NPCI_NPCI) September 15, 2026This comes a day after the Ministry of Finance on Monday notified that banks and system providers cannot levy charges on UPI transactions of up to Rs 2,000 and RuPay debit card payments.“No bank or system provider shall impose, whether directly or indirectly, any charge upon a person making or receiving a payment by using the electronic modes of payment specified in paragraph above,” the government notification said in which it specified RuPay debit cards and UPI transactions of up to Rs 2,000.© The Indian Express Pvt LtdSiddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read More Tags:UPIAdvertisementLoading Recommendations...AdvertisementAdvertisement