UPI just got taxed.
Starting Oct 15: 0.4% fee on all merchant payments over ₹2,000.
• ₹5,000 fertiliser bill → ₹20 cut
• ₹50k wholesale order → ₹200 gone
UPI hit 24.5B transactions in August. Built as public infra. Now it's a toll road.
Small merchants getting squeezed. Volume game just changed. Watch how this ripples through India's digital payment rails.
Starting Oct 15: 0.4% fee on all merchant payments over ₹2,000.
• ₹5,000 fertiliser bill → ₹20 cut
• ₹50k wholesale order → ₹200 gone
UPI hit 24.5B transactions in August. Built as public infra. Now it's a toll road.
Small merchants getting squeezed. Volume game just changed. Watch how this ripples through India's digital payment rails.
