RBI Governor says small UPI fee won’t hit transaction volumes

RBI Governor Sanjay Malhotra said the new UPI merchant fee is unlikely to dent transaction volumes.
From October 15, a 0.4% Merchant Discount Rate will apply to select UPI payments above ₹2,000.
Consumers will not pay the fee, which will be charged to eligible merchants instead.
UPI recorded 24.07 billion transactions in September, down 1.8% from August’s record high.

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