UPI Fees Could Push Users Back to Cash, Warns Ex-NITI Aayog Vice-Chairman Rajiv Kumar
Former NITI Aayog vice-chairman Rajiv Kumar has warned that even a modest merchant fee on UPI could slow Indiaโs digital payments momentum and drive some users back to cash. His remarks come after the government said a 0.4% merchant discount rate would apply to UPI payments above Rs 2,000 from October 15, while consumer transactions would remain free.
