GENERAL27 Sept 2026
Mobile phone retailers to protest against UPI MDR charges on Oct 2
From October 15, merchants will pay a 0.4 per cent fee on UPI payments above ₹2,000. Person-to-person transfers and small payments stay free. Mobile phone retailers are unhappy and will observe October 2 as 'No UPI Day', covering their QR codes with black cloth. Their body says this fee could cost small shops ₹2,000 to ₹12,000 every month.
Key Statutory Highlights
- From October 15, a 0.4 per cent fee applies on UPI transfers above ₹2,000 to merchants, while person-to-person transactions and small payments are exempt.
- The All India Mobile Retailers Association has called for a 'No UPI Day' on October 2, 2026, when retailers will cover UPI QR codes with black cloth and stop accepting UPI payments.
- The retailers' body estimates the fee will cost small shops ₹2,000 to ₹12,000 a month, and about ₹500 crore a year across India.
Actionable Advice for Taxpayers / Founders:If you accept UPI payments above ₹2,000, review your monthly margins and pricing now, and check with your CA on how this 0.4 per cent fee may affect your costs before October 15.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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