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A comment on UPI Payments: 10B Transactions a Month Done, Next Stop 100B. Parent comment

Re:UPI Payments: 10B Transactions a Month Done, Next Stop 100B by wtmt on Sunday September 03, 2023 @06:05AM (#37369136)
> EDIT: also sounds like Swish charges a fee to the banks? Sounds a bit outrageous for a payment system trying to be the best in the world to charge a fee.

FWIW, NPCI charges all banks for UPI too. They’ve been eating most of those costs because the government didn’t allow them to charge (now those charges are slowly coming in). Banks haven’t been happy with the zero MDR regime for UPI.

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Re:UPI Payments: 10B Transactions a Month Done, Next Stop 100B by ramraj07 on Sunday September 03, 2023 @06:09AM (#37369156)
According to here: https://www.thehindubusinessline.com/money-and-banking/npci-...

Doesn’t apply for transactions less than ₹2000 ($24 usd). Might sound like a small amount but most Indian transactions won’t cross that. And the fee doesn’t apply to p2p anyway.

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