UPI still free, but there’s a catch: Who ultimately pays & could cash make a comeback?

 Recent updates to UPI regulations have introduced a Merchant Discount Rate for certain transactions. While consumers will not incur any fees for their UPI payments, merchants will face a 0.4% charge on transactions above two thousand rupees. However, person-to-person UPI transfers and payments from small merchants continue to be free. This initiative is designed to foster sustainability and innovation in the digital payment ecosystem. Recent updates to UPI regulations have introduced a Merchant Discount Rate for certain transactions. While consumers will not incur any fees for their UPI payments, merchants will face a 0.4% charge on transactions above two thousand rupees. However, person-to-person UPI transfers and payments from small merchants continue to be free. This initiative is designed to foster sustainability and innovation in the digital payment ecosystem.