Instant payments may look free to the person tapping “send,” but somebody must pay to keep the money moving around the clock. News surrounding India’s instant payments framework shows some of the economics underpinning faster funds. Beginning Oct. 15, a 0.4% merchant discount rate (MDR)...
For six years, India’s United Payments Interface (UPI) has been free for everyone involved, but that’s reportedly about to change. Reuters reported Wednesday (Sept. 16) that India is set to begin charging merchants a 0.4% fee on transactions of more than 2,000 rupees ($21), known as the merchant discount...
Apple is reportedly working on bringing Apple Pay to India sometime this year. That’s according to a report Wednesday (Jan. 21) from the website Moneycontrol, citing sources familiar with the matter. They say the tech giant is holding talks with card networks including Mastercard and...
PhonePe, India’s largest digital payments company, is reportedly closer to going public. The Walmart-backed firm’s initial public offering (IPO) has gotten the approval of regulators, Reuters reported Tuesday (Jan. 20), citing sources familiar with the matter. These sources said that Walmart, Microsoft and Tiger Global...
July 25, 2022
In the push to be part of global commerce, businesses face a range of complexities. As companies seek to have a range of collection and payment options on hand beyond simply accepting cards, they must strive to offer localized choices. It’s no easy task — merchants and all manner of enterprises must navigate compliance hurdles and […]
July 13, 2017
Over the last 18 months, India has moved full-speed ahead from a nearly entirely cash-based society to one with ambitions of being totally cashless. The most public — and most famous...
October 18, 2026
Indian consumers are reportedly increasing their cash usage ahead of new fees on the country’s popular digital payment system. Beginning next month, the United Payments Interface (UPI) system will apply a small fee on all transactions greater than 2,000 rupees, or around $21. But as the Financial Times (FT) reported Sunday (Oct. 18), that change […]
September 16, 2026
For six years, India’s United Payments Interface (UPI) has been free for everyone involved, but that’s reportedly about to change. Reuters reported Wednesday (Sept. 16) that India is set to begin charging merchants...
January 21, 2026
Apple is reportedly working on bringing Apple Pay to India sometime this year. That’s according to a report Wednesday (Jan. 21) from the website Moneycontrol, citing sources familiar with the...
January 20, 2026
PhonePe, India’s largest digital payments company, is reportedly closer to going public. The Walmart-backed firm’s initial public offering (IPO) has gotten the approval of regulators, Reuters reported Tuesday (Jan. 20),...