India to Restore UPI Merchant Fees, PhonePe Gains Most
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
Tag
digital-payments
India Bill Opens Path to UPI Merchant Fees
The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.
RBI Shifts Fraud Liability Burden to Banks from 2027
The RBI has issued final directions on digital payment fraud liability, effective January 1, 2027, requiring banks to prove customer negligence rather than the other way around. A new compensation scheme covers losses up to Rs 50,000 for eligible victims who report fraud within five days.
UPI Hits Record 23.2 Billion Transactions in May
UPI processed a record 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, up 3.8% from April, per NPCI data. The milestone deepens pressure on regulators to address market concentration, with PhonePe and Google Pay together holding nearly 80% of transaction volume.
Paytm Shares Drop 8% on RBI Payments Bank Ban
Paytm shares fell around 8% on Monday after the RBI banned its payments bank unit. The move threatens key revenue streams and could disrupt wallet and merchant settlement services for millions of users.
UPI Sets Record: 24,162 Crore Transactions in FY26
UPI processed 24,162 crore transactions worth ₹314 lakh crore in FY26, setting a new record for India's digital payments network. The scale reinforces UPI's role as the core of retail finance and supports broader goals around financial inclusion and formal economic activity. The government has signaled continued focus
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Tag
digital-payments
Indian Govt serves up the UPI MDR removal that Phonepe has been waiting for
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
24d ago · 4 min · Policy & Government
Govt Opens Door to MDR On UPI, To Amend Digital Payment Rules
The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.
25d ago · 4 min · Policy & Government
RBI issues final amendment directions on limiting customer liability in digital transactions, effective from 2027
The RBI has issued final directions on digital payment fraud liability, effective January 1, 2027, requiring banks to prove customer negligence rather than the other way around. A new compensation scheme covers losses up to Rs 50,000 for eligible victims who report fraud within five days.
2mo ago · 4 min · Policy & Government
UPI crosses 23 Bn monthly transactions for the first time in May
UPI processed a record 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, up 3.8% from April, per NPCI data. The milestone deepens pressure on regulators to address market concentration, with PhonePe and Google Pay together holding nearly 80% of transaction volume.
2mo ago · 3 min · Markets
Paytm Shares Tumble 8% After RBI Ban On Payments Bank Unit
Paytm shares fell around 8% on Monday after the RBI banned its payments bank unit. The move threatens key revenue streams and could disrupt wallet and merchant settlement services for millions of users.
3mo ago · 2 min · Markets
UPI hits record scale: 24,162 crore transactions worth ₹314 lakh crore in FY26
UPI processed 24,162 crore transactions worth ₹314 lakh crore in FY26, setting a new record for India's digital payments network. The scale reinforces UPI's role as the core of retail finance and supports broader goals around financial inclusion and formal economic activity. The government has signaled continued focus
3mo ago · 1 min · Economy
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