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India Delays UPI Payment Fee Rollout Until After Diwali

By Uniquetimesorg October 13, 2026 0

India has postponed the introduction of a fee on large transactions made through the Unified Payments Interface (UPI) until after the Diwali festival, the National Payments Corporation of India (NPCI) announced on Tuesday. The proposed 0.4% charge on merchant transactions exceeding ₹2,000 was originally scheduled to take effect on October 15. NPCI said the delay […]Continue Reading

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India May Delay UPI Payment Fee Rollout by Few Months

By Uniquetimesorg October 8, 2026 0

India is considering delaying the introduction of a 0.4% fee on large UPI merchant payments by a few months, according to a regulatory official and an industry executive familiar with the discussions. The fee, which applies to transactions above ₹2,000, was scheduled to take effect from October 15. The proposed charge ended more than six […]Continue Reading

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UPI MDR from Oct 15: RBI Says Impact on Usage Will Be Small

By Uniquetimesorg October 7, 2026 0

RBI Governor Sanjay Malhotra said the new merchant discount rate (MDR) on select UPI transactions is unlikely to have a major impact on UPI usage. The new framework will come into effect from October 15, introducing a 0.4% charge on eligible UPI person-to-merchant transactions above ₹2,000. The MDR will be paid by merchants and cannot […]Continue Reading

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Before the first tap: Why money habits must be taught at home

By Uniquetimesorg October 7, 2026 0

  India has built world-class financial infrastructure faster than it has built the habits to use it well. That lesson begins with parents. Every generation of Indian parents has taught its children about money in its own way. Mine learnt it by watching elders count coins at the end of the day, weigh each purchase, […]Continue Reading

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Apple Pay Launches in India With Axis Bank Partnership

By Uniquetimesorg September 30, 2026 0

Apple Pay has officially launched in India through a partnership with Axis Bank, marking the payment service’s entry into one of the world’s largest digital payments markets. Axis Bank will initially offer Apple Pay to customers with eligible Visa and Mastercard credit cards, while cards on India’s RuPay network will not be supported. Customers can […]Continue Reading

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India Seeks Review of GST on UPI Merchant Fees

By Uniquetimesorg September 25, 2026 0

The Indian government hopes the GST Council will review the 18% Goods and Services Tax imposed on merchant discount rates for UPI transactions, according to a government source. The GST Council is scheduled to meet on October 7, though it is unclear whether the issue will be discussed at that meeting. Earlier this month, India’s […]Continue Reading

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PhonePe Plans 20,000 New Hires to Expand Rural Merchant Network

By Uniquetimesorg September 24, 2026 0

Digital payments platform PhonePe said it plans to hire 20,000 additional on-roll sales employees over the next year as it expands its merchant network across smaller towns and villages in India. The Walmart-backed company aims to strengthen digital payment access in underserved rural areas. PhonePe also plans to deploy more than 5 million devices, including […]Continue Reading

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UPI Fee Shift Set to Strengthen PhonePe, Google Pay Dominance

By Uniquetimesorg September 22, 2026 0

India’s decision to introduce a merchant fee on certain UPI transactions could significantly boost revenue for major payment apps such as Walmart-backed PhonePe and Google Pay. Starting October 15, a 0.4% merchant discount rate will apply to UPI transactions above ₹2,000. Bernstein estimates the move could generate up to $1.1 billion in annual revenue for […]Continue Reading

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Apple Pay Eyes India Launch With Axis Bank Partnership

By Uniquetimesorg September 18, 2026 0

Apple is reportedly preparing to launch Apple Pay in India next month with Axis Bank credit cards, according to three sources familiar with the matter. The move would mark Apple Pay’s entry into one of the world’s largest digital payments markets, where the service is currently unavailable. Apple has also held discussions with HDFC Bank […]Continue Reading

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India’s UPI to Introduce Fees on Large Merchant Payments

By Uniquetimesorg September 16, 2026 0

India’s Unified Payments Interface (UPI) will end its more than six-year zero-fee era for certain large merchant transactions from October 15, 2026. Under new rules announced by the National Payments Corporation of India (NPCI), a 0.4% Merchant Discount Rate (MDR) will apply to merchant transactions above ₹2,000. The charge cannot be passed on to consumers. […]Continue Reading