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The government has, however, specified that banks and other system providers cannot impose any charge on RuPay-powered debit cards and UPI payments of up to Rs 2,000.
In its initial phase, the programme targets the creation and growth of nearly 4,000 rural enterprises over the next three years.
The development comes just a week after Meta announced a nearly $900 million investment in Indian fintech startup CRED and appointed its founder, Kunal Shah, as the new global head of WhatsApp.
Alipay+ has close to 1.8 billion user accounts and are used by over 150 million merchants.
OpenAI has been actively working to engage with government agencies.
Sep 26th Edition: Here's what followed our online gaming ban story — from late-night calls and even a bribe offer...Also, we explore whether VCs have spotted their ‘Lovable’ in India yet?
Behind flashy apps and jackpots lies a complex web of mule accounts, payouts, and payment tricks that move thousands of crores beyond the screen.
Interestingly, not just payment aggregators, the has decided to charge some large merchants – who use the bank’s UPI directly.
A decade-old debate ends with government formalizing oversight of payments through Payments Regulatory Board, redefining roles across RBI, NPCI and fintech.
While the government insists UPI is free, hidden charges, unsustainable incentives, and industry frustrations tell a different story.
Paytm will provide mentorship, infrastructure support, market access, and funding opportunities to startups.
