Overview
- NPCI reported that UPI processed about 145 billion transactions and Rs 177 lakh crore in value in the first half of FY27, a 27% rise in volume and 20% gain in value year on year.
- September showed a small month-on-month dip to 24.07 billion transactions and Rs 29.37 lakh crore in value but an increase in average daily transactions to 802 million versus 791 million in August.
- From October 15, merchants will pay an MDR of 0.4% on UPI payments above Rs 2,000 with a Rs 300 cap for very large transactions and special flat or lower rates for railways, telecom, fuel, insurance and capital markets.
- The MDR proceeds will be split among ecosystem participants, with customers' banks set to receive 40%, payment gateways 30%, UPI apps 20% and sponsoring banks 10%, and small merchants taking part in a QR exemption for up to Rs 1 lakh a month.
- UPI's international reach now extends to 11 countries, with Uzbekistan the latest, underscoring the platform's rapid domestic growth and its drive to expand cross-border acceptance.