‘It has to be absorbed by the business’: Why Indian merchants are wary of instant payment fees
- BENGALURU: A decade ago, most diners at Zachariah Jacob’s restaurants in Delhi settled their bills in cash.
- But today, reaching for a phone to scan a QR code and pay using the Unified Payments Interface (UPI) has become almost instinctive for his customers, he says.
- UPI is India’s real-time payment system that allows users to send and receive money instantly between bank accounts.
Confirmed
- BENGALURU: A decade ago, most diners at Zachariah Jacob’s restaurants in Delhi settled their bills in cash.
- But today, reaching for a phone to scan a QR code and pay using the Unified Payments Interface (UPI) has become almost instinctive for his customers, he says.
- UPI is India’s real-time payment system that allows users to send and receive money instantly between bank accounts.
Sources: CNA