Summary
Small shops can still receive payments without extra charges up to two thousand Indian rupees.
Only larger shop payments above that amount may include a tiny fee.
The tiny fee will be used to support a fund for small businesses.
Key Points
4 points1
Person‑to‑person transfers have no fee.
2
Merchant payments up to two thousand Indian rupees have no fee.
3
A small Merchant Discount Rate of 0.4% is charged on larger merchant payments.
4
Collected fees will help a dedicated fund for small merchants.
New Words to Learn
8 wordsUnified Payments Interface
A digital system that lets people move money using their phones.
Merchant
A person or shop that sells things.
Merchant Discount Rate
A small charge that shops sometimes pay when they get money electronically.
National Payments Corporation of India
The organization that runs the country's digital money system.
Transaction
When money is sent or received.
Micro‑enterprise
A very small business, like a street vendor.
Threshold
The amount where a rule starts to apply.
Fund
Money saved to help a specific purpose.
Want to learn even more? Click here to read the full story!
🔊 Reading Article
Kid-friendly voice