UPI Introduces 0.4% Fee on Transactions Above Rs 2,000 from October 15

India’s Unified Payments Interface (UPI) will charge a 0.4% fee on transactions above Rs 2,000 starting October 15, capped at Rs 300. The fee applies to vendors or shops, while consumers and person-to-person transfers remain free. Small merchants under a monthly threshold are exempt. The key debate is who will bear this cost and the implications for India’s digital payment infrastructure.

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