India to add fee for bigger shop payments

India to add fee for bigger shop payments

From October 15, shops in India will pay a 0.4% fee on phone payments over 2,000 rupees (~$20.93), limited to 300 rupees. The fee is set by NPCI, which runs India's UPI payment system. It handled 241.6 billion payments worth $3.3 trillion last financial year, after more than six years free.

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