The Hindu·4 min read·medium
Will UPI remain free to use? | Explained
T
T.C.A. Sharad Raghavan
✦AI Summary
The Indian government is considering a policy shift that could allow banks and payment processors to charge merchants for UPI transactions. This move aims to address the financial burden of maintaining the UPI infrastructure, which is currently subsidized by the government and absorbed by banks.
The story so far: Payments made on the Unified Payments Interface (UPI) platform have been free so far. However, a new law introduced by the government seeks to change this and allow banks and UPI companies to charge merchants for certain UPI payments.
economybusinesstechnology
✦
Get the full story
Sign up for Headlinne to unlock AI insights, political bias analysis, and your personalized news feed.
Create free accountAlready have an account? Sign in