The Payments Pivot: India's Shift to Merchant Fees Sets Precedent for Digital Payments The Indian government's recent legislation aimed at reshaping the business model behind its Unified Payments Interface (UPI) has significant implications for the global digital payments landscape.
This development is particularly noteworthy given UPI's rapid expansion in emerging markets and its growing importance as a ubiquitous payment system in India.
With over 23 billion transactions processed last month, the UPI network has become an essential tool for consumers, who increasingly rely on mobile based payments for everyday transactions.