Topic
fees
E-Commerce & Marketplaces Lok Sabha passes bill to let banks levy merchant charges on UPI transactions
The Lok Sabha approved a Bill amending the Payment and Settlement Systems Act, 2007, empowering the government to allow banks and payment service providers to levy Merchant Discount Rate on UPI transactions. The Times of India reported a likely 0.25%–0.4% fee on business payments above Rs 2,000 — a threshold covering only about 5% of transactions but nearly 65% of UPI's processed value.
Finance Banks Collected Rs 7,100 Crore as Minimum Balance Penalty in FY26, Private Banks Account for 70%
Indian banks collected nearly Rs 7,100 crore in penalties from customers for failing to maintain minimum average balance in FY26, up from Rs 6,800 crore in FY25. Private banks accounted for 70% of the charges, with HDFC Bank alone collecting Rs 1,800 crore. Meanwhile, 10 of 12 public sector banks have discontinued such penal charges, leading to a decline in their collections.
Technology AWS Billing Glitch Shows Customers Erroneous Fees of Up to $7.1 Trillion
A global billing glitch in Amazon Web Services displayed incorrect estimated charges to customers, with some seeing fees in the billions and trillions. The root cause was an issue with the estimated billing computation subsystem, which AWS is now rolling back. The issue is expected to be resolved by the weekend.
E-Commerce & Marketplaces StubHub UK Ordered to Refund Over 50,000 Customers and Pay £900,000 Fine for Hidden Fees
StubHub UK has been ordered by the CMA to refund more than 50,000 customers and pay a £900,000 fine for failing to display mandatory fees upfront. Each customer will receive an average of £10 per transaction. This action is part of the CMA's broader crackdown on drip pricing under the new Digital Markets, Competition and Consumers Act.
E-Commerce & Marketplaces Ticket Reseller StubHub Fined £900,000 by UK CMA for Hidden Fees; Customers to Receive Refunds
The UK Competition and Markets Authority (CMA) fined ticket reseller StubHub £900,000 for failing to display total prices upfront, including hidden fees. More than 50,000 customers are expected to receive refunds averaging £10 per transaction. The CMA warned that hidden fees are illegal and unfair to consumers.
Logistics Marinakis Advocates Hormuz Fee to Mitigate Shipping Disruptions
Evangelos Marinakis suggests that a transit fee for the Strait of Hormuz could have prevented significant shipping disruptions. The proposal comes after months of turmoil due to regional conflicts, impacting global tanker markets.