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Wire · regulatory

UPI row: Congress alleges US pressure behind Modi govt move

7 August 2026 · By · Wire by Fusion42

Published

7 August 2026

Topic

regulatory

◆ Sectors

Fintech

◆ Geography

India

◆ Source

Read at madhyamamonline.com →

◆ Verified

Fusion42 · 29 August 2026 · Fusion42 review

India's proposed amendment to the Payment and Settlement Systems Act could allow charges on UPI transactions by removing the current legal protection against merchant discount rates, amid allegations of US pressure to weaken the zero-MDR policy.

This Wire brief sits within Fusion42's coverage of Fintech, and 17 sources have reported it between 4 Aug 2026 and 17 Aug 2026.

◆ ◆ The Wire takeaway

You face a shift in UPI's pricing structure as legal protection against merchant fees is being removed. Fintech founders in India must prepare for possible added costs hitting merchants and ultimately consumers.

◆ Coverage

17 sources · first reported 4 Aug 2026 · latest 17 Aug 2026

◆ Related on Wire

◆ Topics

Fintechupidigital-paymentsregulationindiamerchant-discount-rateus-india-relations