On this page

RBI Governor Malhotra: a small UPI fee won't significantly dent transaction volumes

Latest update, : UPI fees: RBI Governor Malhotra asked whether charges would dent usage

Sanjay Malhotra's comment on UPI payments bears on merchant discount rate (MDR) discussions for merchants and payment players. The RBI Governor said a small fee on UPI payments will not have a major impact on transaction volumes.

Newer report , , CNBC-TV18 : GST Council takes no call on UPI MDR; deferment not its decision to make, says Sitharaman

Read next

  1. RBI's Malhotra signals pause or hike, not a cut, as small UPI MDR charge shows no volume dip so far, , Financial Express Business, Auto & Life
  2. GST Council's October 8 meeting likely to ease registration for small e-commerce sellers, with GST rates expected to stay unchanged, , Business Today

What we verified

Checked against the other reports of this story.

What it means for online and offline

The RBI Governor's view that a small UPI fee won't significantly dent volumes is not a policy decision, but retailers should model what a possible MDR would add to checkout costs and which categories with thin margins would feel it most before any rule is announced.

Updates

Each later report on this story, newest first. Earlier entries are never edited; a correction is a new entry.

  1. Read the update at Business Today

    UPI fees: RBI Governor Malhotra asked whether charges would dent usage

On the record

Earlier Unified Payments Interface (UPI) reports on RetailIntel, newest first.

  1. : Ex-RBI Governor Rangarajan: new UPI MDR on merchant payments above ₹2,000 should not attract GST
  2. : UPI volume slips 1.8% to 24.07 billion in September as a 0.4% MDR on P2M payments above Rs 2,000 nears for October 15
  3. : LocalCircles: UPI value could fall 10%, volumes 4% once 0.4% MDR hits payments above ₹2,000 on October 15
  4. : UPI MDR: Nilesh Shah says none below Rs 2,000 for now, but UPI needs funding and some charge may come

The source

Source Read the source at Indian Express

Published

Also reported by Mint, Financial Express, NDTV Profit, Moneycontrol, The New Indian Express Business, Deccan Herald Business, News18 Business & Auto, YourStory, India Today Business & Auto, Business Today, The Hindu BusinessLine, Outlook Business

First seen

By