Reserve Bank may rationalise some payment charges, says industry

Others say central bank may relook zero merchant discount rate on RuPay, UPI

The Reserve Bank of India’s (RBI) decision to float a discussion paper on charges in payment systems has evoked mixed reactions from the industry with many saying that the regulator should look at rationalising certain charges that are on the higher side. 

The RBI may, in fact, also look at introducing charges on certain instruments and players, who are currently exempted from any fees.

The apex bank had earlier said the discussion paper will cover all aspects of charges in digital payments such as credit cards, debit cards, prepaid payment instruments (cards and wallets) and Unified Payment Interface (UPI), among others. 

The main