Topic
Trade Payments
E-Commerce & Marketplaces Mobile payments rise in UK as cash decline slows, UK Finance data shows
Two-thirds of UK adults were registered with a mobile payment service last year, according to UK Finance. Debit cards accounted for 54% of payments, while cash use fell to 8% and is forecast to halve by 2035. The decline in cash is slowing, with millions still relying on notes and coins.
E-Commerce & Marketplaces India Paves Way for UPI Merchant Fees as Free Payments Era Nears End
India has paved the way for banks and payment companies to charge merchants a fee on UPI transactions, according to BBC News. The government is considering a merchant discount rate of 0.3-0.5% on larger transactions, while consumers and person-to-person payments remain free. Most UPI payments would stay free under the proposal.
E-Commerce & Marketplaces Parliamentary panel recommends expeditious MDR rollout on high-value UPI transactions
According to Business-Today, a Parliamentary panel has recommended the expeditious introduction of a calibrated Merchant Discount Rate (MDR) on high-value UPI transactions. The report follows Parliament clearing amendments to the Payment and Settlement Systems Act, 2007, that enable banks and payment providers to levy charges on notified digital payment modes. The committee noted the Rs 2,000 crore zero-MDR compensation covers only about 10 per cent of the industry's estimated Rs 20,700 crore operating costs.
E-Commerce & Marketplaces What is the proposed UPI MDR, who pays the final cost, and how does it work?
UPI transactions in India may soon attract a Merchant Discount Rate for certain merchant payments, with a proposed Rs 2,000 threshold and 0.25%–0.4% fee. Consumers and person-to-person transfers will remain free, according to Business Today. The government says the fee is needed to make the UPI ecosystem financially sustainable.
E-Commerce & Marketplaces No Charge on UPI for Consumers, Payments Council Clarifies in New FAQs
The Payments Council of India released FAQs reiterating Finance Minister Nirmala Sitharaman's stance that consumers will not pay for UPI. The clarification follows the government's lifting of the legal restriction on merchant discount rates. Small merchants also remain exempt from MDR, while larger merchants face commercial service-charge arrangements.
E-Commerce & Marketplaces UPI MDR Charges: 0.25–0.4% Levy Proposed on Transactions Above Rs 2,000 for Merchants
The Lok Sabha cleared a Bill amending the Payment and Settlement Systems Act, 2007, enabling charges on UPI and other notified payment modes. The government is expected to permit a Merchant Discount Rate of 0.25–0.4% on UPI transactions above Rs 2,000 made to businesses, while consumers and small merchants remain exempt, according to Business-Today.
E-Commerce & Marketplaces UPI MDR Clarified: Sitharaman Says Merchants Will Bear Fee, Customers Won't Pay
Finance Minister Nirmala Sitharaman clarified that any Merchant Discount Rate on UPI transactions would be levied on merchants, not customers, responding to Congress leader Jairam Ramesh's concerns. No decision on MDR has been made yet; the NPCI-headed UPI and Services Steering Committee will examine the matter only after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026.
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.
E-Commerce & Marketplaces RBI Governor Malhotra Says Consumers Already Bear UPI Costs Indirectly
RBI Governor Sanjay Malhotra says consumers already bear UPI costs indirectly through the broader economy, even without explicit merchant fees. The government has proposed amendments to allow UPI merchant fees, with reports of a Rs 2,000 threshold, while Malhotra says the fee decision is premature.
E-Commerce & Marketplaces Consumers already bearing UPI costs via broader economy: RBI governor
RBI governor Sanjay Malhotra said consumers already bear the cost of UPI transactions indirectly through the broader economy, even when no merchant fee is charged. He called any decision on enabling merchant fees premature, while the government has proposed amendments to the law that barred fees and reports suggest a fee could apply to transactions over Rs 2,000.
E-Commerce & Marketplaces RBI Governor Says 'Someone Has to Pay' on UPI MDR Above Rs 2,000
India is expected to allow a Merchant Discount Rate of 0.25% to 0.4% on UPI transactions above Rs 2,000 made to businesses. RBI Governor Sanjay Malhotra said the costs have to be paid by someone, while P2P payments are likely to remain exempt.
E-Commerce & Marketplaces MDR to help fintechs recover costs, boost their IPO hopes
India plans to introduce a merchant discount rate on large-value UPI transactions, helping fintechs recover transaction costs and boosting IPO prospects for PhonePe, Razorpay, PayU, PayNearby and Innoviti. Jefferies estimates a 15-30 bps MDR on P2M transactions above Rs 2,000 could generate Rs 5,000-10,000 crore annually.
E-Commerce & Marketplaces India moves to allow UPI merchant discount rate via payments act amendment
India has moved a step closer to allowing merchant charges on UPI transactions after proposed amendments to the Payment and Settlement Systems Act were introduced in Parliament by Finance Minister Nirmala Sitharaman. The amendment would create the legal framework for a merchant discount rate; sources quoted by Reuters say no fee quantum or transaction categories have been decided, while a government source cited a possible 0.3%–0.5% MDR on transactions above Rs 2,000 for merchants with turnover above Rs 15 million.
E-Commerce & Marketplaces UPI averages 76.3 crore daily transactions in July; NETC FASTag volumes decline
UPI processed 2,366 crore transactions in July 2026, up 4.1% month-on-month and 22% year-on-year, with daily average transactions at 76.3 crore, according to a report by TNN. NETC FASTag transaction volumes fell 4.1% month-on-month and 6% year-on-year to 34.7 crore, while transaction value declined 1% to Rs 7,143 crore.
E-Commerce & Marketplaces UPI Hits Highest-Ever Monthly Transaction Value of Rs 29.88 Lakh Crore in July
India's UPI reached its highest-ever monthly transaction value of Rs 29.88 lakh crore in July, according to NPCI data. The platform processed 23.66 billion transactions, surpassing June's 22.72 billion and May's previous high. UPI is now operational in about 10 countries, expanding its cross-border footprint.
E-Commerce & Marketplaces NTT Data Payments to globalise India's UPI with hub-based cross-border model
NTT Data Payment Services is working on a hub-based architecture to link India's UPI with fast payment systems in Japan, Thailand, Malaysia, and India, potentially replacing bilateral cross-border payment arrangements. The company launched Adaptis as its unified digital payment brand. The strategy aims to let merchants and consumers transact seamlessly across borders.
E-Commerce & Marketplaces BNPL Rules Bring Refunds and Rejections as FCA Regulation Takes Effect
New Financial Conduct Authority rules effective from Wednesday require Buy Now Pay Later lenders to be authorised, giving shoppers stronger refund rights and access to the Financial Ombudsman Service. However, instant affordability checks on each transaction may reject 10% to 30% of users, according to Fair4All Finance, raising concerns about pushing consumers toward unregulated alternatives.
E-Commerce & Marketplaces Samsung Leads India Smartphone Sales via EMI Financing, Counterpoint Report Finds
Samsung is India's leading smartphone brand for EMI purchases, followed by Vivo and Apple, according to Counterpoint Research. Financing will account for 42% of smartphone sales in 2026, up from 35% in 2025, as rising component costs push prices higher. NBFCs support 67% of financed sales, especially in Tier-2 and Tier-3 cities.
E-Commerce & Marketplaces EMI and instalment-based smartphone purchases nearly at par with one-time payments in India
According to Counterpoint Research, smartphone financing via NBFCs and credit/debit card EMIs will account for 42% of total smartphone sales in India in 2026, up from 35% in 2025. The trend is driven by rising smartphone prices, attractive no-cost EMI schemes, and increasing consumer preference for monthly payments. Samsung leads in financing penetration with its Samsung Finance+ and other options.
E-Commerce & Marketplaces ToneTag eKosha turns UPI soundboxes into banking touchpoints for Indian MSMEs
Bengaluru-based fintech ToneTag has launched eKosha, a tech stack that turns existing UPI soundboxes into always-on banking touchpoints. The platform uses sound-based data transfer and edge AI to allow merchants to access credit, overdrafts, and other services via voice commands, covering 3 million touch points across 73% of India's pin codes.
E-Commerce & Marketplaces UPI daily volumes rise 1.2% to 75.7 crore in June, value steady at Rs 96,405 crore
Average daily UPI transaction volumes increased 1.2% month-on-month to 75.7 crore in June, while average daily value held steady at Rs 96,405 crore, the National Payments Corporation of India reported. Monthly volumes and values declined from May's strong levels, but year-on-year growth remained robust at 23% and 20% respectively. FASTag and IMPS also saw monthly dips.
E-Commerce & Marketplaces Kunal Shah Exits CRED CEO Role to Run WhatsApp as Meta Invests $900 Million
Kunal Shah is leaving CRED's CEO position to head WhatsApp globally, as Meta invests roughly $900 million for a 20% stake in CRED, valuing it at $4.5 billion post-money. Mark Zuckerberg announced the move, with Will Cathcart stepping aside for a new product role and Miten Sampat taking over as interim CRED CEO.
E-Commerce & Marketplaces Kunal Shah Appointed Global Head of WhatsApp, Stepping Away From Cred Day-to-Day
Meta Platforms appointed Kunal Shah as global head of WhatsApp, replacing Will Cathcart. Shah will relocate to Meta's California headquarters and step away from day-to-day responsibilities at Cred while remaining a shareholder. The move marks a high-profile transition of an Indian startup founder into a top bigtech product leadership role.
E-Commerce & Marketplaces Relay Payments Partners with Platform Science for Enhanced Payment Solutions
Relay Payments has partnered with Platform Science to enhance payment solutions for truck drivers. This integration allows drivers to use Platform Science tablets for secure transactions, reducing fraud risks.
E-Commerce & Marketplaces Windscribe Introduces Cash Payments for VPN Subscriptions
Windscribe has introduced cash payments for its VPN subscriptions, providing users with complete financial anonymity. However, the company warns that this method is slow and risky, with potential for lost or stolen payments.
E-Commerce & Marketplaces UPI Transactions Surge to 30L Cr, Marking 19% Growth
Unified Payments Interface (UPI) transactions in India have surged to 30 lakh crore, marking a 19% year-on-year growth. This increase highlights the expanding role of digital payments in the Indian economy.
E-Commerce & Marketplaces LIC Eyes Fintech Expansion with Strategic Investments
LIC is exploring strategic investments in fintech to modernize its IT infrastructure and enhance returns for policyholders. CEO R Doraiswamy emphasizes the need for agility and innovation.
E-Commerce & Marketplaces UPI Transactions Surge to Record Rs 29.90 Lakh Crore in May
Unified Payments Interface (UPI) transactions in India reached a record Rs 29.90 lakh crore in May, driven by increased consumer activity and seasonal spending. The National Payments Corporation of India (NPCI) reported a significant rise in both transaction volume and value.