UPI Fees: will new charges change how India pays? | Insight India

By The Hindu

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his week, the National Payments Corporation of India said that businesses will soon be charged a Merchant Discount Rate of 0.4% on transactions above Rs. 2,000 made via UPI platforms. Merchants will now have to bear the cost of using UPI services. The move has drawn criticism, especially because the government has repeatedly reassured people that any fees levied on UPI services would not affect customers. But with businesses now having to account for this additional charge, will customers really remain as unaffected as the government claims? In this episode, Sonikka Loganathan speaks to chartered accountant and author Lavanya Mohan about how these new charges will affect small and mid-sized businesses, and whether this move will push Indians to go back to cash, 10 years after demonetisation. 'Insight India' by The Hindu that breaks down the biggest issues facing the nation so you understand how it actually impacts you. From public policy and legal affairs, to social movements and the

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