Retailers to Halt UPI Payments in Protest October 2
Major Indian retail industry groups have called for a nationwide halt on accepting UPI payments on October 2 to protest a new 0.4% fee on larger merchant UPI transactions, which takes effect October 15. The organizations say the new charge could add up to ₹9,000 crore in annual costs across mobile and FMCG retailers. The Supreme Court declined to pause the new levy but has requested responses from government stakeholders.
- Retailers plan to stop UPI payments for one day
- Protest targets new 0.4% fee on large merchant UPI payments
- Industry groups say the charge threatens thin-margin businesses
- Retailers estimate up to ₹9,000 crore in new annual costs
- Supreme Court declined stay but seeks government response
Sources covering this
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