New Delhi, Sept. 24 -- The introduction of a Merchant Discount Rate (MDR) on select Unified Payments Interface (UPI) transactions is unlikely to materially affect payment volumes, according to National Payments Corporation of India (NPCI) Managing Director and CEO Dilip Asbe.

Speaking at the 13th SBI Banking & Economics Conclave 2026 on Thursday, Asbe said revenue generated under the new framework would be channelled back into the digital payments ecosystem, including investments in technologies such as soundboxes and artificial intelligence-based solutions, news agency ANI reported.

"Any change will create some pain, but we believe that as of now, we don't foresee any major impact on the volumes or value. In fact, it will grow manifold...