Payment firms in a fix as UPI, RuPay incentives dry up

Fintech startups and the government’s difference over charges on Unified Payments Interface (UPI) transactions continues to remain a thorny issue after the budget’s reduced preliminary allocation of Rs 1,441 crore to incentivise digital payments done via RuPay debit cards and UPI.

This amount is much lower than the initial plan to allocate Rs 3,500 crore that was mentioned in the interim budget presented by the finance minister in February.