Merchant charges for UPI soon? Payments above Rs 2,000 may attract a fee

Consumers using UPI may soon encounter charges on substantial UPI transactions to merchants, as regulators are considering a fee of approximately 0.4 per cent, said sources familiar with the development.

The National Payments Corporation of India (NPCI) and various payment regulators are engaging with banks and payment firms regarding the proposed fee framework, including the distribution of charges among banks, payment applications and payment aggregators, sources said.