Mobile Retailers Announce ‘No UPI Day’ on October 2 Over Proposed 0.4% Transaction Fee; Check What Changes for Customers
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Mobile retailers across India are set to observe a nationwide ‘No UPI Day’ protest on October 2, 2026, opposing the proposed introduction of a 0.4% Merchant Discount Rate (MDR) on certain high-value UPI transactions. The protest has been called by the All India Mobile Retailers Association (AIMRA), with participating retailers planning to temporarily stop accepting UPI payments and cover shop QR codes with black cloth.
The protest comes ahead of the proposed implementation of the new UPI transaction fee from October 15, 2026. Under the proposed framework, an MDR of 0.4% would apply to merchant UPI transactions above INR 2,000, while micro-merchants receiving less than INR 1 lakh per month and peer-to-peer transactions would remain exempt. UPI Charges Above INR 2,000: Supreme Court Declines Stay on New MDR Framework.
AIMRA has argued that the proposed charge could significantly increase costs for mobile and electronics retailers, which typically handle high-value transactions. According to the association, individual mobile stores process around INR 5 lakh to INR 30 lakh in UPI payments every month, potentially resulting in an additional monthly burden of INR 2,000 to INR 12,000 per store. UPI New Rules From October 15: Govt Clarifies MDR, GST and RuPay Charges.
The association estimates that the proposed levy could cost small mobile retailers around INR 40 crore every month, or nearly INR 500 crore annually. AIMRA has urged the government to retain the zero-MDR regime for commercial retailers.
Meanwhile, Finance Minister Nirmala Sitharaman has said the proposed 0.4% charge would be borne by merchants and would not be directly passed on to consumers. The National Payments Corporation of India (NPCI) has also maintained that digital payment processing costs are part of merchant operations and that there should be no need for retailers to increase product prices solely because of the proposed charge.
(The above story first appeared on LatestLY on Sep 28, 2026 06:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
