India, Oct. 13 -- The implementation of Merchant Discount Rate (MDR) charges on select Unified Payments Interface (UPI) transactions has been deferred until after Diwali, following requests from trader bodies and payment industry stakeholders.

"Keeping in mind the festive season, the UPI and Services Steering Committee today (October 13) decided that MDR on select Person-to-Merchant (P2M) UPI transactions shall be implemented immediately post Diwali," the National Payments Corporation of India (NPCI) said in a statement on Tuesday.

The rollout was earlier scheduled for October 15.

The delay is expected to give payment companies and other stakeholders additional time to prepare for the changes, which come amid heightened consumer spendi...