Free UPI for users, fees for large merchants? Former NPCI director weighs in
- Former NPCI director Santanu Paul said on August 19, UPI should remain free for consumers, payers and small merchants across India.
- He suggested a 0.3%–0.4% merchant discount rate could eventually apply to large merchants on transactions above ₹2,000.
- Paul said UPI needs a sustainable business model as its usage could grow fivefold in India over the coming decade.
- Finance Minister Nirmala Sitharaman has said UPI will stay free for consumers, while the government can decide exempt payment modes.
Source: ndtv.com
Get 100 stories a day on the app
Read, watch & listen · Free on iOS & Android
