India retailers weigh impact of upcoming UPI transaction fees
- MUMBAI: Retailers in India are preparing for upcoming transaction fees on the country's widely used Unified Payments Interface (UPI) system, after authorities delayed their implementation until after Deepavali.
- The National Payments Corporation of India (NPCI), which operates the system, announced on Tuesday (Oct 13) that a 0.4 per cent charge for merchants on transactions exceeding 2,000 rupees (US$21) would be postponed until after the holiday.
- The rollout was initially scheduled to take effect on Thursday, while Deepavali falls on Nov 8.
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- MUMBAI: Retailers in India are preparing for upcoming transaction fees on the country's widely used Unified Payments Interface (UPI) system, after authorities delayed their implementation until after Deepavali.
- The National Payments Corporation of India (NPCI), which operates the system, announced on Tuesday (Oct 13) that a 0.4 per cent charge for merchants on transactions exceeding 2,000 rupees (US$21) would be postponed until after the holiday.
- The rollout was initially scheduled to take effect on Thursday, while Deepavali falls on Nov 8.
Sources: CNA