UPI Fees Risk Slowing Digital Payments, Pushing Users Back to Cash, Warns Rajiv Kumar
Former NITI Aayog vice-chairman Rajiv Kumar has warned that even a small merchant fee on UPI could blunt Indiaโs digital payments momentum and drive some users back to cash. His remarks come after the government said a 0.4% MDR will apply to UPI merchant transactions above Rs 2,000 from October 15, while consumer payments remain free.
