Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. India is taking steps to reshape the business model behind its Unified Payments Interface (UPI), a widely used payments network built by the government, via new legislation that could pave the way for merchants to pay charges on some UPI transactions. The legislation (PDF) lays the legal groundwork for a potential overhaul of India’s zero-merchant-discount-rate (MDR) regime, under which businesses have not paid fees to accept UPI payments since 2020. The policy shift comes as UPI has become ubiquitous in India, processing a record 23.66 billion transactions worth ₹29.88 trillion (around $313.4 billion) in July alone, per the National Payments Corporation of India (NPCI), the operator of UPI. India scrapped merchant discount rates on UPI transactions in January 2020 to accelerate adoption of the payments network, which instead relied on state incentives to support its operation and development. The proposal comes after years of argument between the finance ministry, India’s central
Aug 4, 2026 → Aug 16, 2026
For most Indians, paying by Unified Payments Interface (UPI) has become almost absurdly routine. Scan a QR code, tap a few buttons and the money moves instantly. There is no card machine, no cash, and - most importantly - for the user, no…
Read original at BBC →2 updates from 2 sources over 12 days.
For most Indians, paying by Unified Payments Interface (UPI) has become almost absurdly routine. Scan a QR code, tap a few buttons and the money moves instantly. There is no card machine, no cash, and - most importantly…
Read original at BBC →Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. India is…
Read original at TechCrunch →What this story stands on. Tier 0 is a primary record or the subject's own words; higher tiers must be attributed, never stated as bare fact.
For most Indians, paying by Unified Payments Interface (UPI) has become almost absurdly routine. Scan a QR code, tap a few buttons and the money moves instantly. There is no card machine, no cash, and - most importantly - for the user, no…
View source →Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now. Disrupt doors open Oct. 13. Get your pass and bring someone with you at 50% off. REGISTER NOW. India is taking steps to reshape…
View source →Tier key: T0 = Primary source · T1 = Wire · T2 = Outlet report · T3 = Commentary
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