India's Digital Payment System: A Shift in Fees, and a Shift in Power The Indian government's decision to charge merchants a fee for using the country's popular Unified Payments Interface (UPI) system has sent shockwaves through the financial sector.
The move, which will see a 0. 4% charge levied on transactions above $20, has been met with both praise and criticism from various quarters.
The key argument in favor of the fee is that it will strengthen the unit economics for platforms such as Walmart owned PhonePe and Google Pay.