Summary
This rule works for payments up to two thousand Indian rupees, which is about the price of a few toys.
The change helps keep the digital money system safe and lets more people use it.
Key Points
3 points1
No fees for digital payments up to two thousand Indian rupees.
2
Applies to the Unified Payments Interface and debit cards.
3
Goal is to keep the system safe and let more people use it.
New Words to Learn
8 wordsUnified Payments Interface
a way to send money instantly using phones
Indian rupees
the money used in India
Merchant Discount Rate
a small charge that shops sometimes pay when people use digital money
cybersecurity
protecting computers and money from bad people
fraud
when someone tries to steal money by cheating
infrastructure
the important technology and machines that make the system work
subsidies
extra money given by the government to help pay for things
self-sustaining
able to keep working without needing extra help
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