In a circular dated March 24, National Payments Council of India (NPCI), the governing body of Unified Payments Interface (UPI), announced the introduction of an interchange fee for merchants in case of UPI transactions being done through online wallets. . The latter, which was enabled by NPCI earlier this month in fresh efforts to make all forms of digital payments interoperable in the country, created...
Digital payments giant Paytm had announced in February that it would enable UPI Lite services on its platform. NPCI (National Payments Corporation of India) last year unveiled a more efficient version of the pre-existing UPI service to make small transactions. Now Paytm has become the first payment service to use this feature and made it available on Android devices. I sat down with Shreyas Srinivasan,...