The National Payments Corporation of India temporarily deferred a 0.4% merchant discount rate on select UPI transactions above ₹2,000 just two days before its October 15 rollout.
Mumbai-based NPCI stated that the fee implementation on person-to-merchant payments is kept on hold keeping the festive season in mind, with a fresh date to follow.
The planned levy had drawn sharp criticism from trade bodies and opposition parties over fears that merchants would pass the extra costs to consumers or shift to cash.