PhonePe CEO Supports New UPI Merchant Discount Rate Policy
· Business · Economic Times, India Today, Times of India
PhonePe Founder and CEO Sameer Nigam has endorsed the government's new UPI Merchant Discount Rate policy, which introduces a 0.4% charge on large-value merchant transactions. Nigam stated that this move is essential for the long-term sustainability and growth of the digital payments ecosystem. He clarified that approximately 96% of UPI transactions will remain free for users. The additional revenue generated is expected to support innovation, merchant digitization, and the expansion of digital payment services into smaller towns and cities.
Why it matters
This policy change is a significant shift for the UPI ecosystem, aiming to balance free consumer services with the need for sustainable revenue models for payment providers.
Read the original report — Economic Times
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