BusinessAI imageIndia to Impose Fee on UPI Instant Payments from October
The Indian government plans to impose a controversial merchant discount rate (MDR) fee on UPI instant payments exceeding ₹2,000. The decision, supported by NPCI and RuPay, has faced criticism and legal challenges in the Supreme Court. Some merchants, including Mumbai petrol pumps, may stop accepting UPI payments from October 15 due to the new charges. The government states the move followed consultations with SEBI and stock exchanges.
Al Jazeera··Mumbai


