New Delhi, Sept. 24 -- The newly introduced Merchant Discount Rate (MDR) framework for Unified Payments Interface (UPI) transactions is unlikely to have any major impact on transaction volumes, National Payments Corporation of India (NPCI) Managing Director and CEO Dilip Asbe said on Thursday, stressing that revenues generated through the new structure would support further investment in the digital payments ecosystem.

Speaking at the 13th SBI Banking & Economics Conclave 2026, Asbe said the ecosystem would "invest back into the ecosystem", including in technologies such as soundboxes and artificial intelligence-based solutions.

"Any change will create some pain, but we believe that as of now, we don't foresee any major impact on the vo...