Indian Consumers Embrace Cash Ahead of New Instant Payment Fees
By PYMNTS
AI summary of the source article
Indian consumers are increasing cash usage ahead of incoming fees on the United Payments Interface system. Beginning next month, UPI will apply a small fee on all transactions greater than 2,000 rupees, or approximately $21.
Key facts
- Indian consumers are increasing cash usage ahead of new fees on digital payments.
- The United Payments Interface (UPI) system will apply a small fee beginning next month.
- The fee applies to all transactions greater than 2,000 rupees, or around $21.
Source excerpt · PYMNTS
Indian consumers are reportedly increasing their cash usage ahead of new fees on the country’s popular digital payment system. Beginning next month, the United Payments Interface (UPI) system will apply a small fee on all transactions greater than 2,000 rupees, or around $21. But as the Financial Times (FT) reported Sunday (Oct. 18), that change […] The post Indian Consumers Embrace Cash Ahead of…