The 0.4% charge on UPI payments above ₹2,000 is here, and merchants are not sitting still.

For years, UPI has been the default way to pay in India: fast, simple and free for merchants. Now that larger payments come with a cost, merchants are rethinking how they collect money. Some are reviewing prices. Some are looking at other payment methods. Others are talking to their providers.

Benori's merchant survey captures this moment. It brings together seven clear findings on awareness, sentiment, margin impact, planned responses, payment preferences and the support merchants want.

The results raise a bigger question: will the new MDR slow UPI's growth, or will merchants and providers find a way to adapt?

Get the data-backed view that payments leaders need right now.

Download the full insight here!