Summary
Big shop payments over 2,000 rupees will pay a tiny fee called a merchant discount rate. 💸
Small payments stay free for everyone, so buying things stays easy. 😊
Key Points
4 points1
A tiny fee of 0.4% is added to big shop payments.
2
Payments over 75,000 rupees will pay at most 300 rupees.
3
Important services like trains and phones pay a flat 5 rupee fee.
4
All person‑to‑person and small shop payments stay free.
New Words to Learn
7 wordsReserve Bank of India
India's main bank that looks after the country's money and banking system.
Unified Payments Interface
A way to send money instantly using phones or computers.
Merchant Discount Rate
A small charge taken from big shop payments to help pay for the payment system.
sustainability
Keeping something working well for a long time.
infrastructure
The basic tools and systems needed for something to work, like computers and networks.
transaction
A buying or selling action, like paying for something.
participants
The people or groups that take part in something.
Want to learn even more? Click here to read the full story!
🔊 Reading Article
Kid-friendly voice