Summary
That is 23% more than the same month last year.
Most small shop payments stay free, so they don't pay extra fees.
Key Points
3 points1
About 802 million phone money moves happened each day in September.
2
The total value of these moves was about 29.37 lakh crore rupees.
3
A new tiny fee would only affect big shop payments over 2,000 rupees.
New Words to Learn
10 wordsUnified Payments Interface
A way to send and receive money using a phone.
National Payments Corporation of India
The group that runs the phone money system in India.
transaction
When money moves from one person or shop to another.
billion
One thousand million.
crore
Ten million.
year-on-year
Comparing numbers from this year to the same time last year.
average
The typical amount you get when you add things together and divide.
merchant
A person or shop that sells things.
merchant discount rate
A small fee that sometimes is added when a shop gets money.
Goods and Services Tax
A tax the government adds to many purchases.
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