The Trump Factor Behind India’s UPI Shake-Up | UPI News Rules 2026 | Indian Express Special

UPI News Rules 2026: UPI has become a part of everyday life in India — from paying for a cup of chai to buying groceries, booking tickets and shopping online. But a major change in the law could reshape how India’s most popular digital payment system works. The Taxation and Other Laws (Amendment) Bill, 2026, changes the legal framework around UPI and RuPay debit card payments, potentially allowing banks and payment service providers to levy a Merchant Discount Rate (MDR). So, is free UPI coming to an end? Not exactly. The proposed framework is aimed primarily at large merchants and high-value transactions. More than 96% of UPI transactions — including everyday payments to small merchants — are expected to remain free. But the bigger question is: who ultimately pays for the enormous cost of keeping UPI running? With the UPI ecosystem estimated to cost thousands of crores every year, the government has already spent billions in subsidies to support the system. And there is another layer to this story: geopolitics. Read: https://indianexpress.com/article/exp... As India pushes UPI beyond its borders, the payment system has increasingly become part of the country's economic and diplomatic relationship with the United States. American financial companies have long faced competition from India's low-cost digital payment infrastructure, while Washington has raised concerns about India's zero-MDR policy. So, is this simply about making UPI financially sustainable — or is there a bigger global battle behind the change? Watch the full investigation to understand UPI, MDR, the ₹20,000-crore annual cost, and the hidden geopolitical fight over India's digital payments revolution. #UPI #UPICharges #DigitalPayments #India #MDR #UPINews #DigitalIndia #NirmalaSitharaman #Modi #Trump The Indian Express brings you comprehensive coverage of global & indian politics, election news, business news, world affairs, sports, entertainment, Bollywood, and public policy. Go beyond the headlines with exclusive interviews, explainers, ground reports, editorials, opinion, and expert analysis that help you understand the stories shaping India and the world. With accurate, fact-based reporting backed by over 90 years of credible journalism, The Indian Express brings context and clarity to the issues that matter. Subscribe to The Indian Express for in-depth news, India news, live updates, business news, political analysis, world news, and insightful conversations that keep you connected with the stories shaping our times. You can search us on YouTube by: @indianexpress, indian express, indian express newspaper today,indian express newspaper,indian express editorial analysis,indian express analysis,indian express analysis today,indian express,indian express news,the indian express newspaper analysis,the indian express,the indian express newspaper analysis today,the indian express editorial analysis,the indian express newspaper. Stay Tuned To Indian Express For More Updates: https://indianexpress.com/ Watch Out Our Top Shows: 🡆 Express Investigation - Express Investigation 🡆 Idea Exchange - Idea Exchange 🡆 POV - POV. 🡆 Indian Express Explained - Indian Express Explained 🡆 Express Adda- Express Adda (Latest) 🡆 News Analysis By Neeta Sharma- News Analysis by Neeta Sharma 🡆 UPSC Essentials- UPSC ESSENTIALS: ART & CULTURE with Devdut... #LatestNews #BreakingNews #EnglishNews Subscribe to our Channel: The Indian Express: http://goo.gl/RjJrX0 Connect with us: Facebook: Facebook: indianexpress Twitter: Twitter: indianexpress Indian Express App: http://indianexpress.com/apps/ Official Website: https://indianexpress.com/