Explore the latest news, in-depth reports, and executive analysis tagged with #Merchant Category.
Digital gold purchases value via UPI increased to Rs 2,585.35 crore in September from Rs 2,488.52 crore in August.
![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.
In its order, the Delhi HC has asked the RBI to depute a senior officer to help the parties reach a resolution within 30 days.
The overall value of merchant category-wise purchases via UPI fell to Rs 8.95 lakh crore in August from Rs 9.07 lakh crore in July, even as transaction volumes rose.
The value of securities brokers and dealer transactions via the unified payments interface (UPI) jumped 21.01% month-on-month to Rs 73,752.37 crore in July from Rs 60,945.24 crore in June.
Online marketplaces saw growth both in terms of volume and value in June 2026, according to NPCI data.
The story behind ICICI Bank's interchange recovery effort starts with merchant category codes and the economics they shape.
Some payment aggregator companies have faced penalties by card networks for misclassifying merchants under the utility merchant category codes.
The overall value of the merchant category-wise purchases via UPI increased to Rs 8.61 lakh crore in March across 14,180.46 million transactions.
The overall value of the merchant category-wise purchases via UPI fell to Rs 7.72 lakh crore in February across 12,795.78 million transactions as compared to Rs 8.41 lakh crore in January across 13,608.10 million transactions.
The RBI has directed payment aggregators to stop the misuse of education merchant category codes (MCC)...
The overall value of the merchant category-wise purchases via UPI rose to Rs 8.07 lakh crore in December across 13,482.38 million transactions.
Online marketplaces witnessed 126.2 million transactions worth Rs 8,350 crore via UPI payments during the month as compared to 141.2 million transactions worth Rs 10,049.11 crore.
The value of debt collection by agencies via the UPI had reached as much as Rs 93,857 crore across 161.36 million transactions in July 2025.
NPCI has, for the first time, broken down UPI numbers by merchant category.
