By : Deepak Chand Thakur, co-founder and CEO of NPST.

 

“Favourable Macroeconomic Impact An increase in discretionary spending can have a beneficial impact on UPI transaction volumes. Any relief to stimulate personal spending capacity in the upcoming Union Budget FY 2025-26 will be welcomed by the fintech industry.

Introduction of MDR Regime for UPI Payments Today, one in three digital payments is a UPI transaction. With growing investment in payments infrastructure, fraud management, compliance, and security — and the associated cost of processing transactions — participating entities need to monetize UPI. A rethinking of MDR for UPI transactions above Rs 2,000 can create a sustainable revenue model, benefiting all stakeholders in the UPI ecosystem.

Democratizing Data through AI Policy: The data landscape offers potential for shared intelligence solutions. AI-driven collaboration could strengthen fraud prevention network-wide, particularly benefiting smaller players who need government support for intelligence sharing.”