India is introducing legislation to establish a business model for its instant payments network, UPI. This move aims to potentially overhaul the current zero-merchant-discount-rate regime, which has allowed businesses to accept UPI payments without fees since 2020. The proposed changes could introduce fees for merchants, fundamentally altering the financial structure of the popular payment system. AI
RANK_REASON Policy change impacting a major national payment system. [lever_c_demoted from significant: ic=1 ai=0.1]
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