India ends free ride for larger transactions on its ubiquitous digital payments network
India will impose a 0.4% merchant fee on certain payments made through UPI starting October 15.
UPI
India moves to give its instant payments network a business model
The legislation lays the groundwork for a potential overhaul of India’s zero-merchant-discount-rate regime, under which businesses have not paid fees to accept UPI payments since 2020.
Amazon, Meta join fight to end Google Pay, PhonePe dominance in India
PhonePe and Google Pay command 80% of India’s UPI instant payments network. Rivals are set to meet with regulators to lobby for restrictions.
India pilots AI chatbot-led e-commerce with ChatGPT, Gemini, Claude in the mix
India has launched a pilot to let users shop and pay directly through AI chatbots, starting with ChatGPT.
PayPal taps wallets from China and India to make cross-border payments easier for 2 billion people
PayPal is partnering with global fintech companies to let users pay to different wallet systems cross border.