EconomyIndian payment firms soar after UPI permits fees on some merchant transactions

Shares of Indian payment companies rose broadly after the country's digital payments network said operators could begin charging merchants 0.4% on Unified Payments Interface transactions above 2,000 rupees, or about US$20, from mid-October. Analysts said the change could add up to US$1 billion in annual industry revenue, while person-to-person payments remain free.