New DelhiUPI’s zero-fee decade ends Oct. 15 in India.
Small merchants now pay a 0.4% fee that retailers warn will push transactions back to cash.
The fee applies above ₹2,000 per transaction, capped at ₹300, while person-to-person transfers and small payments stay free.
UPI processed a record 24.51 billion transactions in August, all due for the new fee starting Oct. 15.
How each outlet framed it
drawn from 800+ reports worldwide
- BBC
- Hindustan Times leans critical
- warns retailers on thin margins will shift to cash, hurting GST tax formalization during peak festive season
- Al Jazeera Online
- frames as Modi political controversy with opposition claiming costs imposed on merchants under foreign pressure
Sources: Hindustan Times, BBC, Al Jazeera Online