India sets 0.4% UPI merchant fee on payments above ₹2,000

Person-to-person transfers and merchant payments up to ₹2,000 stay free, with the charge capped at ₹300 on transactions of ₹75,000 and above. India’s government introduced a 0.4% merchant discount rate on Unified Payments Interface (UPI) payments to merchants above ₹2,000 ($20.85) on 15 September, ending more than six…