TechTechCrunchabout 1 hour ago
India to Charge 0.4% Fee on Large UPI Transactions
1 min read
India's National Payments Corporation of India (NPCI) announced a 0.4% merchant fee on UPI transactions above ₹2,000, effective October 15. The fee, capped at ₹300 for transactions of ₹75,000 or more, ends the free processing model for merchants since 2020. Consumers will not be charged. The move aims to make the network, which processed 24.51 billion transactions in August, financially self-sustaining.
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