Branch² Intelligence

Retailers see UPI edge over cards despite new MDR hit

IN · 2026-09-28

India — direction and magnitude withheld

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Key takeaway

Retailers are shifting high-value transactions from credit cards to UPI to lower payment acceptance costs after the new MDR on UPI.

  1. Step 1 · The triggerthe new MDR on high-value UPI transactions prompts retailers to reassess payment acceptance costs
  2. Step 2 · Knock-onretailers shift high-value transaction volumes from credit cards to UPI, reducing overall payment costs
  3. Step 3 · Knock-onpayment-solutions providers like Innoviti Technologies see increased UPI transaction throughput and revenue from merchant processing
  4. Step 4 · Knock-oncard networks and acquirers lose transaction volume as merchants rebalance payment mix, impacting their fee income
  5. Step 5 · Reaches youIndian SMEs with significant digital sales see improved net margins as payment acceptance costs fall

The trigger is reported by the source below. The steps that follow are Branch²’s traced reasoning — how the shock could reach a business like yours, not a prediction.

Source: The Hindu BusinessLine

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