New UPI Merchant Fee Sparks Volatility In Fintech Shares
· rediff.com
The Indian government has introduced a 0.4% fee on UPI transfers above Rs 2,000 made to merchants, effective October 15, ending nearly six years of free merchant payments. This move led to initial rallies in fintech stocks like Paytm and Mobikwik, though some later pared gains. Person-to-person transactions and small payments remain free for customers, with the fee being a Merchant Discount Rate (MDR).
India's digital payment landscape is set for a significant change as the government implements a new 0.4% fee on UPI merchant transactions over Rs 2,000, impact...