INDIA MOVES TO GIVE ITS INSTANT PAYMENTS NETWORK A BUSINESS MODEL

India has introduced legislation aimed at giving its instant payments network a business model, according to TechCrunch. This move lays the groundwork for a potential overhaul of the country's zero-merchant-discount-rate regime. The regime, in place since 2020, has allowed businesses to accept UPI payments without paying fees.

The legislation's details are not fully outlined, but it is expected to bring significant changes to India's payment landscape. As described, the current zero-merchant-discount-rate regime has been in effect since 2020, with businesses not paying fees to accept UPI payments. However, specific figures and quotes related to the new legislation are not provided in the available information.

This move is significant as it may impact how businesses in India operate with regard to digital payments, potentially altering the financial dynamics for both merchants and consumers. The available information does not provide extensive background, but it highlights the potential for change in India's payment system.

• India introduces legislation for its instant payments network business model
• The move could overhaul the zero-merchant-discount-rate regime in place since 2020
• The change may impact how businesses operate with digital payments in India

Read the original source for full detail available at TechCrunch src