ScienceSlashdotabout 2 hours ago
India Allows Merchant Fees on UPI Transactions
2 min read
India paved the way for banks to charge merchants a fee on UPI transactions, with a proposed merchant discount rate of 0.3-0.5% on larger payments. Consumers and person-to-person transfers stay free. UPI processed 23.6 billion transactions in July, worth $313.5 billion.
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