For ordinary bank-account-to-bank-account UPI, NPCI says transactions remain free for merchants and customers. NPCI’s FAQ says a merchant receives money immediately after the customer confirms payment, into a merchant pool or bank account “as per their agreement.” That qualification matters: the destination and contractual settlement terms depend on the merchant’s acquiring arrangement.
Does UPI charge merchants?
NPCI’s March 29, 2023 statement says bank-account-to-bank-account UPI transactions “continue to remain free for Customers and Merchants.” This describes standard account-linked UPI; it does not establish that every UPI-linked payment source or separate service in a merchant agreement is free. NPCI’s statement distinguishes bank-account transactions from PPI wallet transactions, for which interchange charges apply to the merchant transaction; NPCI says customers are not charged those interchange fees.
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For RuPay credit cards linked to UPI, NPCI’s 2022 operating circular sets out a narrower nil-MDR rule: it applies to eligible small offline merchants for transactions up to and including ₹2,000, with no interchange, PSP or app-provider charges under that provision. The circular also describes applicable interchange in other cases within its scope. Do not treat this limited category and threshold as the general fee rule for ordinary UPI or all merchants. Check your acquirer for current terms and any later changes. Read the NPCI circular.
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Ask your acquiring bank or payment provider to identify any separately disclosed service charges in your agreement. The NPCI statements above do not establish a provider’s fee for a particular service.
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When will I receive UPI payments?
NPCI’s FAQ says: “Merchant will receive the money immediately after customer confirms the payment into the merchant Pool bank account/ merchant bank account as per their agreement.” The statement describes merchant receipt after confirmation, but the agreement determines whether the destination is a pool account or the merchant’s bank account and the applicable arrangement. See NPCI’s UPI FAQ and confirm the destination and settlement terms with your acquirer.
NPCI’s settlement-cycle circulars describe inter-member payment-system operations, not a merchant-facing promise of a set number of payouts per day. A bank’s settlement cycle should not be read as a guaranteed payout schedule for an individual merchant. September 2025 circular and October 2025 addendum.
Rank #2
- Pay one transparent rate per swipe for Visa, Mastercard, Discover and American Express.
- Works in conjunction with most downloadable Square point-of-sale apps on your device. Customers can pay, tip and sign directly on your device. Track payments in cash, gift cards and more. Also lets you send receipts via e-mail or text message, makes it easy to apply discounts, keeps a data and sales history log and more.
- Accepts magstripe credit card payments, including those from Visa, Mastercard, Discover and American Express (fees apply).
- App sends deposits to your bank account within 1 to 2 business days, or enjoy instant deposits (fees apply).
How can a merchant start accepting UPI?
NPCI describes merchant onboarding as a bank-led process. The merchant partners with an acquiring bank, which provides UPI infrastructure and manages due diligence, compliance and configuration. The acquirer assigns a merchant category code (MCC) based on the business category and configures details such as the merchant identifier, UPI ID, account information and integration type. NPCI’s merchant FAQ explains the process.
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| Mode | What it means for checkout |
|---|---|
| QR | Customer scans the merchant’s displayed code. NPCI says the QR can carry the merchant’s UPI ID and amount, which appear on the customer’s payment screen. |
| Intent | Provides a handoff into a payment app from a website or app flow. |
| Application-based | Integrates UPI payment functionality into an application. |
| Collect | Merchant sends a payment request for the customer to approve. |
When comparing acquirers, ask about the supported mode for your checkout, onboarding requirements, settlement destination and terms, reconciliation, refund and dispute handling, support, and any disclosed service charges. A printed stand or countertop display can show a configured merchant QR, but it does not create the QR, complete onboarding or process payments; those depend on the acquirer’s infrastructure.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What if a payment is pending, failed or needs a refund?
Refunds and merchant-side status
NPCI says a merchant should ask its bank to refund the charged amount through the defined process. For a grievance or transaction-status check, NPCI directs the merchant to the acquiring bank. Its FAQ does not set one universal merchant refund or payout timeline, so follow the process and timing your acquirer provides. NPCI UPI FAQ.
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Payer-side failures and delays
NPCI’s FAQ says a failed debit is refunded, though the refund may take longer than intended. It also says that a pending payment delayed at the beneficiary bank should reach the beneficiary within 48 hours once that bank completes its daily settlements. These are consumer-side FAQ statements, not a merchant acquiring service-level agreement; they do not guarantee a merchant’s payout or refund timing. NPCI UPI FAQ.
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Best Value
- An intuitive interface to easily accept payments and manage your sales.
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- A truly portable device. Stay in control of your business, wherever you go.
- Support when you need it. Get in touch with our US-based support through phone, email and chat.
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