India's payments shift under small fee
India has introduced a 0.4% fee on certain UPI payments exceeding 2,000 rupees made to businesses, effective from October 15. While most person-to-merchant transactions and smaller payments will remain free, larger payments for services like telecom and agriculture will incur charges, aiming to support the system's long-term viability. The move has sparked debate over potential impacts on merchants and the continued adoption of digital payments in the country.
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