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Proposed 0.4% UPI merchant fee will not be passed to consumers: Report

Government sources clarified that the proposed merchant fee on UPI transactions above Rs 2,000 will not affect consumers. National Payments Corporation of India noted that a small portion of UPI transactions might be impacted. The amount collected will be shared among banks and stakeholders within the UPI ecosystem. The Indian Banks' Association plans to address misunderstandings about the charges soon.

24 Sep 2026 9:28 pm