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UPI Hits Record Transaction Volumes As Festive Shopping Surges And MDR Is Delayed
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Moneycontrol•13-10-2026, 14:04
UPI Hits Record Transaction Volumes As Festive Shopping Surges And MDR Is Delayed
- •UPI reached a record daily transaction volume of 873 million on October 9 and 871 million on October 10 during the first days of online ecommerce sale events.
- •The National Payments Corporation of India postponed UPI Merchant Discount Rate implementation until Diwali, easing cost concerns during the festive season.
- •The monthly average daily transaction volume for October stood at 845 million, surpassing September's average of 801 million.
- •UPI is projected to potentially hit a new monthly transaction value record of Rs 30 lakh crore in October.
- •While credit cards dominate card discounts on platforms like Flipkart and Amazon, UPI continues to see massive overall reach and high transaction volumes.
Key Questions Answered
Spurred by festive shopping, the daily transaction volume on UPI reached 873 million on October 9, 2026, followed by 871 million the next day.
The NPCI postponed the implementation of UPI MDR until Diwali, with the fee set to be implemented immediately after the holiday for merchant transactions exceeding Rs 2,000.
The proposed MDR is a 0.4 percent fee charged to merchants for processing digital payments, which translates to Rs 8 for every Rs 2,000 spent or Rs 40 for every Rs 10,000 paid.
