India is ending free merchant processing for its Unified Payments Interface (UPI) network, implementing a 0.4% fee on transactions above ₹2,000 starting October 15. The move aims to make the system financially self-sustaining while keeping small transactions and small merchants exempt.
Background
UPI handles billions of monthly payments but has operated without merchant fees since 2020, leading to sustainability concerns. The new fee structure mirrors global card networks while protecting small businesses and essential sectors.
- Source
- TechCrunch
- Published
- Sep 15, 2026 at 10:22 PM
- Score
- 7.0 / 10