UPI transaction volume, value fall in Sept ahead of new MDR rules

UPI processed 24.07 billion transactions worth ₹29.37 lakh crore in September, down 1.8% from August's record 24.51 billion transactions, according to NPCI data. Transaction value also fell slightly month on month. The decline comes ahead of a new UPI Merchant Discount Rate framework, which will take effect from October 15 this year for specified person-to-merchant payments above ₹2,000.