UPI charges announced for merchants; 0.4% on transactions over Rs 2,000
The National Payments Corporation of India announced a 0.4% fee on UPI transactions over ₹2,000, effective October 15. Merchants will incur this charge, capped at ₹300 per transaction, while small vendors receiving up to ₹1 lakh monthly will be exempt. The Ministry of Finance advised banks to ensure these costs are not passed to customers.