Overview
- NPCI data released Sunday show UPI handled 25.47 billion transactions in October and processed Rs 31.53 lakh crore in value, a year‑on‑year rise of 23% by volume and 16% by value.
- Average daily UPI transaction value topped Rs 1 lakh crore for the first time, with UPI averaging about 821–822 million transactions per day in October.
- Instant transfers on the IMPS rail also grew, with October value at Rs 7.63 lakh crore and average daily IMPS counts near 12.1 million, showing strength beyond the UPI rail.
- NPCI has delayed implementation of the Merchant Discount Rate until after Diwali and outlined a framework that would charge a flat Rs 5 for certain categories on payments over Rs 2,000 and 0.4% (capped at Rs 300) for large merchants.
- NPCI estimates the new MDR would affect only about 4% of merchant transactions and keep more than 95% of person‑to‑merchant payments exempt, but the authority has not given a new start date and stakeholders say timing and clarity will matter for merchants and shoppers.