EconomyIndia to impose controversial fee for UPI instant payments: Who benefits?

India will impose a 0.4 percent Merchant Discount Rate from October 15 on UPI payments to businesses above 2,000 rupees, capped at 300 rupees. Person-to-person transfers will remain free, while some services will cost five rupees per transaction. Experts warn the charges could drive businesses away, as opposition parties accuse Narendra Modi’s government of shifting costs to merchants.

IndiaUPI paymentsmerchant fees

AAl Jazeera★★★☆☆2026-09-17 11:18Original