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![The MCC mayhem: HDFC Bank enters the scene; PayU sues banks; Razorpay prepares to contest IRF claims [Exclusive]](/upload/theheadandtale.com/2026/09/1789475840_7b2f2e1ea7_mcc_misuse_2.jpg)
What began as a one-off dispute in which ICICI Bank quietly initiated interchange reimbursement fee (IRF) claims over MCC misuse is now turning into an industry-wide contest.
The clarification comes after some users received notifications stating that wallets inactive for more than 12 months could attract a maintenance charge of up to Rs 100 per quarter.
The story behind ICICI Bank's interchange recovery effort starts with merchant category codes and the economics they shape.
The penalty stems from Paytm's purchase of e-commerce firm Little Internet nearly eight years ago.
Interestingly, not just payment aggregators, the has decided to charge some large merchants – who use the bank’s UPI directly.
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