MumbaiIndia postponed a 0.4% payments fee after merchants pushed back.
Its Unified Payments Interface carried 24.07 billion transactions in September, free to merchants since January 2020.
The network’s operator estimates annual running costs near ₹200 billion ($2.1 billion), and the government subsidises banks and payment providers.
The fee exempted payments of ₹2,000 or less and merchants receiving under ₹100,000 a month.
The National Payments Corporation of India will start the fee after Diwali but set no date.
How each outlet framed it
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- TechCrunch
- ties the delay to the festive season and retailer threats to stop accepting UPI, not only to the fee itself
Sources: TechCrunch