India's free UPI payment ecosystem could soon witness its biggest policy shift since launch. The government has proposed amendments to the Payment and Settlement Systems Act that create a legal framework for introducing Merchant Discount Rate (MDR) on selected digital payment modes in the future.

While no immediate charges have been announced, reports suggest the government is considering a 0.25% to 0.4% merchant fee on UPI transactions above ₹2,000 made to businesses. Person-to-person transfers are expected to remain free, while larger merchants could bear the charges based on their annual turnover.

UPI Payments May No Longer Be Free? Government Eyes Merchant Charges

Global tech firms Amazon and Meta are preparing to raise concerns about India’s digital payments market, where PhonePe and Google Pay continue to dominate. Executives from several platforms are expected to meet the National Payments Corporation of India (NPCI).

‘80% market share’: Why rivals are raising concerns over PhonePe, Google Pay

The primary change under this new reform will significantly reduce the time taken for payment completion, from 30 seconds earlier to around 15 seconds now.

PhonePe, Google Pay, and Paytm transactions to become faster, NPCI rolls out key UPI upgrade

India’s E-commerce giant Flipkart has seen a significant decline in its valuation over the past two years, according to equity transactions disclosed by its parent company, Walmart.

Flipkart's valuation drops by $5 bn in two years, Walmart's equity transactions reveal

Recently, PhonePe, one of India's leading payment apps has launched an app store, Indus app store, in an attempt to take on the Google play store. Our correspondent Aadhya Juneja spoke to Sameer Nigam, CEO of PhonePe.

PhonePe launches new app store

Boasting about the country's extensive and fast digital payment ecosystem, India's External Affairs Minister S Jaishankar on Sunday (Jan 21) claimed that the number of cashless transactions the United States does in three years, India does in a month.

'India does as many cashless payments in 1 month as US in...': Minister Jaishankar boasts of digital infra

PhonePe, which is an Indian digital payment company, has issued a warning to the Indian National Congress, the opposition party in the state of Madhya Pradesh. The warning comes amid a poster war between Congress and Bharatiya Janata Party (BJP) which has become viral and is deemed objectionable.

India: PhonePe warns Congress against 'unauthorised' use of logo in Madhya Pradesh poll posters

"Pincode," a brand-new shopping app from PhonePe that is based on the ONDC platform, was just released. The app is already accessible for download on the Google Play Store and App Store and will concentrate on hyperlocal e-commerce. The software will soon be made available to users outside of Bengaluru, according to a press statement from the company. It seeks to connect customers with all of the nearby brick-and-mortar retailers they often purchase from offline while also promoting neighbourhood store owners and vendors.

PhonePe launches e-commerce app 'Pincode' on ONDC network

India’s National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI) are reportedly in the midst of deciding whether the unlimited transactions carried out via Google Pay, PhonePe and others should continue or not.

India: Google Pay, PhonePe and other UPI apps may impose transaction limit; Paytm to remain unaffected

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Don't fall prey to online scams on Paytm, WhatsApp and other popular apps

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