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India considers delaying UPI payment fee rollout
MUMBAI: India is considering delaying the rollout of a fee on large payments via its popular Unified Payments Interface platform by a few months, according to a regulatory official and an industry executive familiar with the discussions. India last month ended more than six years of zero-cost payments by announcing a 0.4 percent charge for merchants on transactions exceeding 2,000 rupees (USD21), drawing opposition from retailers and a large broker. UPI is used by over 500 million people to buy everything from roadside cups of tea to iPhones in Asia’s third-largest economy. Walmart’s PhonePe a...
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