Global News Today | 2 Min News | The Daily News Now!
India’s UPI payment system is rolling out a new 0.4% fee on transactions over ₹2,000 to businesses—starting October 15—with the government assuring it’s not a tax but a sustainable funding model. Businesses, not customers, will pay, and most everyday transactions remain free—including P2P transfers, small merchant payments, and rural QR codes. The fee caps at ₹300 for large transactions (₹75K+) and applies flatly at ₹5 for specific services like railways or insurance. While critics worry it could push merchants back to cash, supporters see it as essential for long-term innovation and infrastructure.
Listen in comfort:
Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn.
Advertise on DNN:
advertise@thednn.ai
This is an automated, high-level news summary based on public reporting.
Sources:
https://www.bbc.com/news/articles/ckpd0y9gdp5lo
More coverage & latest updates:
https://sources.thednn.ai/2cd51dff368af49b
Report issues to feedback@thednn.ai.