Wire · regulatory
Govt bars bank charges on UPI payments up to Rs 2,000 and RuPay debit card transactions
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Fusion42 · 15 September 2026 · Fusion42 review
The Indian government has prohibited banks and payment system providers from charging fees on UPI transactions up to Rs 2,000 and RuPay debit card payments, as part of amendments to the Payment and Settlement Systems Act. This measure aims to keep small-value digital payments free while enabling potential charges on higher-value UPI transactions, supporting the sustainability of India’s digital payment ecosystem.
This Wire brief sits within Fusion42's coverage of Fintech, and 5 sources have reported it between 14 Sep 2026 and 15 Sep 2026.
◆ ◆ The Wire takeaway
You now face a market where small digital payments through UPI and RuPay carry zero charges, opening volume growth but requiring new revenue plans above Rs 2,000 payments. Banks and fintech builders must pivot fast to target higher-value transactions and rethink fee models or risk missing critical revenue opportunities.
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5 sources · first reported 14 Sep 2026 · latest 15 Sep 2026
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