Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times

India paves way for return of merchant fees on digital payments

NEW DELHI/MUMBAI: India has moved a step closer to reintroducing merchant fees on transactions made through its popular Unified Payments Interface (UPI) after proposed changes to the country's payments laws were introduced in parliament on ‌Tuesday.

UPI, one of ⁠the world's ⁠largest real-time payments networks, processed 23.6 billion transactions worth 29.9 trillion rupees ($313.5 billion) in July, according to official data. Walmart's PhonePe ​and Alphabet's Google Pay dominate payments via UPI.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.