Entrepreneur and former BharatPe co-founder Ashneer Grover has questioned the proposed merchant fee on certain high-value UPI transactions, arguing that costs introduced into the payment ecosystem could eventually affect consumers. Grover’s remarks came after the government clarified that the proposed Merchant Discount Rate (MDR) would apply to certain merchant transactions above ₹2,000, while person-to-person UPI...
Unified Payments Interface (UPI) services experienced a widespread outage across India on Thursday evening, disrupting digital transactions for thousands of users and causing chaos for businesses reliant on cashless payments. This marks the fourth major UPI disruption in 2025, raising concerns about the reliability of the nation’s most widely used payment platform. The issue began...
Reserve Bank of India (RBI) Governor Sanjay Malhotra has clarified that he never stated that Unified Payments Interface (UPI) cannot remain free forever. Speaking at the post-RBI policy conference, Malhotra said, “I want to clarify that I never said UPI can’t remain free forever. There are costs, and these costs have to be paid by...