Digital Payments

Govt considers mechanism to check pass-through of MDR to customers

Government may monitor merchants to ensure new UPI charges are not passed on to consumers from October 15

Delhi merchants up in arms, say MDR on UPI could mark return to cash

New UPI charges on high-value merchant payments are raising concerns among Delhi retailers, with some considering a shift towards cash to protect margins

The next frontier

Digital-payment trail can improve risk assessment for lending

Datanomics: Remittances to India from Aus, Saudi cost double the UN target

India's remittance flows are rising, but high transfer costs and limited UPI links show the need for wider cross-border payment connectivity

Govt holds firm on UPI MDR as Opposition mounts pressure for rollback

Finance Ministry rejects claims of US pressure behind UPI MDR, as Opposition parties and trader groups demand reconsideration of the new merchant fee

UPI Tap and Pay explained: How it works, key features, and its benefits

Digital payments are getting a new option. Here's what RBI's new UPI Tap and Pay feature is all about, how it works and what it could mean for users:

India backs CBDCs for Brics payments, rules out bloc-wide network

India is likely to back greater use of central bank digital currencies for bilateral trade settlements while stopping short of a unified Brics payments system that could be seen as challenge to dollar

Bank of America works on Zelle-UPI bridge for cross-border payments

BofA sees India as key cross-border payments hub as it pilots Zelle-UPI link

Pine Labs appoints former Razorpay executive Jayaram Karthik as COO

Karthik will lead operations and merchant experiences across India and international markets as Pine Labs looks to build a unified operational model globally

UPI sets new record at 24.51 bn transactions in Aug, value at ₹29.82 trn

Transaction volumes rose 3.6 per cent month-on-month and 22 per cent year-on-year, while average daily UPI transactions increased to 791 million

UPI completes 10 years as transaction volume jumps nearly 13,000-fold

Annual UPI transaction volume rose from 1.78 crore in FY17 to over 24,162 crore in FY26, while transaction value climbed to around ₹314 lakh crore

WhatsApp Pay's UPI volumes doubled to 168 million in July, shows data

Moved ahead of players such as Cred, Amazon Pay

Dropping this Oct: Apple Pay services set for India launch, no UPI yet

Apple Pay is set to launch in India by October, initially supporting Visa and Mastercard credit cards but not UPI, as Apple negotiates transaction fees with banks

UPI to remain free for consumers, govt clarifies proposed MDR rules

The government reiterated that UPI will remain free for citizens, with no charges on everyday transactions for consumers

UPI is and will remain free for consumers: PhonePe CEO amid charge concerns

Sameer Nigam, CEO of PhonePe, on Saturday said in a social media post that consumers would continue to use UPI free of charge, even as questions around charges for consumers and merchants continued

We have definitely missed the payments bus, says SBI Chairman Setty

SBI's YONO Pay is gaining traction among the bank's customers, but its volumes remain far behind market leaders PhonePe and Google Pay, which dominate UPI transactions

Best of BS Opinion: Stock exchange closing auction system needs review

The day's opinion highlights flaws in closing auctions, the funding challenge in digital payments, humane KYC, cognitive warfare and everyday gender discrimination

Datanomics: Only 4% of UPI transactions to merchants may draw fee

Only about 4% of UPI merchant transactions may attract an MDR under the proposed law, while all person-to-person UPI payments will remain free

Digital payments need a sustainable funding model for future growth

The Lok Sabha's tax amendment Bill opens the door for future UPI merchant charges, reigniting the debate on funding India's fast-growing digital payments ecosystem

UPI fee proposal could complicate quick commerce's rapid expansion

The proposal to levy a fee on UPI transactions could put quick commerce in the slow lane