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Economy, business and finance
The 2026 Payment Playbook: How UPI, Credit Cards, Netbanking & Cash Compare Across Spend Categories
With a 0.4% MDR capped at Rs 300 for select merchant UPI transactions above Rs 2,000 set to be levied, every payment channel now holds distinct advantages in different categories
Navigating checkout options has evolved from a matter of convenience to a calculated financial choice. Following the National Payments Corporation of India’s (NPCI) updated framework—introducing a 0.4% Merchant Discount Rate (MDR) capped at Rs 300 for select merchant UPI transactions above Rs 2,000—experts say every payment channel now holds distinct advantages depending on purchase size, security needs, and reward potential.
Speed and Convenience: UPI and Cash Lead the Counter