UPI transactions

Budget 2024: Fintech industry wants digital public infra investments, UPI fees and more

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Budget 2024: Fintech industry wants digital public infra investments, UPI fees and more

Mumbai: Financial technology companies have a long list of demands and expectations from the upcoming Union Budget, such as investments in digital public infrastructure, GST exemption for business correspondent (BC) outlets, and a fee structure for UPI payments. “We strongly urge the finance minister to prioritise pivotal solutions such as enhancing digital infrastructure, financial literacy … Read more

Should UPI transactions incur fees? Amazon Pay CEO’s statement fuels discussion

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Should UPI transactions incur fees? Amazon Pay CEO’s statement fuels discussion

Should transactions done on UPI (Unified Payments Interface) be charged? A merchant discount rate (MDR) or a transaction fee is currently not charged for almost all UPI payments (excluding payments through PPI or prepaid instruments) as it is seen as one of the major ways to enhance UPI’s coverage and minimise the resistance to technology … Read more

UPI transaction volume declined to ₹19.64 lakh crore in April. Check Details

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UPI transaction volume declined to ₹19.64 lakh crore in April. Check Details

Volume of Unified Payments Interface (UPI) transactions fell to ₹19.64 lakh crore in the month of April against ₹19.78 lakh crore in the preceding month. In terms of transaction count, the number fell to 13.30 billion from 13.44 billion in March. When compared with April last year, the number of transactions saw a growth of … Read more