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India considers delaying rollout of UPI payments fee, sources say
India is considering delaying the rollout of a fee on large payments via its popular Unified Payment Interface platform by a few months, according to a regulatory official and an industry executive familiar with the discussions. India last month ended a free UPI regime by permitting a 0.4% fee for merchants on transactions exceeding 2,000 rupees ($21). UPI is used by over 500 million people to pay for everything from roadside cups of tea to iPhones. The fee, set to come into effect from October 15, would have coincided with India’s annual festive season that runs from October until December an...
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