India introduces UPI fee raising business concerns
after close1 source ↓written by the desknot a recommendation
- on UPI transactions
- 0.4% fee
- starting
- ₹2,000
- starting
- 15 October
India's National Payments Corporation announced a 0.4% fee on UPI transactions exceeding ₹2,000 starting 15 October. This fee will be borne by businesses, raising concerns about increased operational costs and potential discouragement from using UPI. The government claims this move is necessary for UPI's long-term viability, but experts warn of its adverse impact on businesses.
• Fee applies to transactions above ₹2,000
• Businesses cannot pass costs to consumers
• UPI has been crucial for digital payments in India
Not investment advice. For informational purposes only.