Glenbrook’s On-Demand Learning program combines our expertly curated payments education curriculum with a self-paced format that fits your schedule – start today!
A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
Search Payments News
October 8, 2026
On the wires
India Considers Delaying UPI Payment Fee Rollout, Sources Say
Reuters
"India is considering delaying the rollout of a fee on large payments via its popular Unified Payments Interface platform by a few months, according to a regulatory official and an industry executive familiar with the discussions.India last month ended more than six years of zero-cost payments by announcing a 0.4% charge for merchants on transactions exceeding 2,000 rupees ($21), drawing opposition from retailers and a large broker."
September 29, 2026
On the web
Bank of India Launches Programmable Digital Rupee with Auto-Payment Feature
BusinessLine
"Bank of India has gone live with user-level programmable digital rupee functionality and auto-issuance capability on its Central Bank Digital Currency platform, developed by Montran India, the companies announced today. The new feature allows account holders to schedule automatic transfers of digital rupees (e₹) to a beneficiary’s CBDC wallet at a fixed amount and frequency, while restricting how the recipient can spend the funds."
September 25, 2026
On the web
Finance Minister Explains UPI MDR Structure And Impact
Rediff
"Finance Minister Nirmala Sitharaman clarified that UPI MDR is not a tax, cess, or surcharge, and funds do not go to the government. The MDR is a charge within the digital payments ecosystem, shared among banks, payment gateways, and UPI apps to support infrastructure. The 0.4% MDR applies to person-to-merchant UPI transactions above Rs 2,000, effective October 15, but will not be passed on to consumers. Transactions below Rs 2,000, person-to-person transfers, and RuPay transactions remain free. See other services impacted..."
September 22, 2026
On the web
UPI Merchant Fees Set To Boost PhonePe And Google Pay
StratNews Global
"India’s decision to introduce merchant fees on UPI payments could create a major new revenue stream for leading digital payment apps. Walmart-backed PhonePe and Google Pay could earn millions of dollars annually. From October 15, merchants will face a 0.4% fee on transactions above 2,000 rupees ($21). According to estimates from Bernstein, the new fee could generate up to $1.1 billion in annual revenue for payment apps by March 2028. Based on market share, PhonePe and Google Pay could receive around $900 million of that amount."
JPMorgan's Neukirchen on India Payments Business [Video]
Bloomberg
"Max Neukirchen, Global Co-Head of Payments at JPMorgan, discusses the business opportunities in India’s merchant payments sector. He speaks with Menaka Doshi at the sidelines of the JPMorgan India Conference in Mumbai."
September 18, 2026
On the web
PhonePe Brings UPI Payments to Feature Phones Without Internet
ETCIO
"PhonePe has introduced UPI 123Pay, a revolutionary service aimed at feature phone users.This innovative solution permits UPI transactions without the need for internet access,allowing seamless peer-to-peer and merchant payments. Additionally, an AI helpline offerssupport for registration and activation in various languages, significantly enhancing digitalpayment accessibility in rural and semi-urban regions."
Apple Pay Set to Launch in India Next Month with Axis Bank as First Partner
iThinkDifferent
"Apple Pay is on track to launch in India next month, starting with credit cards issued by Axis Bank. The move would finally bring Apple’s payment service to one of the few major economies where it still isn’t available. According to a report from Reuters , three people familiar with the plans said Apple is preparing a phased rollout that begins with a single banking partner rather than a broad, multi-bank launch."
September 16, 2026
On the web
PhonePe CEO Breaks Silence on UPI Charges
India.com
"The new Merchant Discount Rate (MDR) framework for UPI transactions will not impose any charges on customers. The move is necessary to make India’s digital payments ecosystem financially sustainable, PhonePe CEO Sameer Nigam said. The CEO clarified customers will continue to use UPI without any charges, while small merchants with an annual turnover of less than Rs 1 lakh will also remain outside the MDR regime. For larger shops, 96% of transactions, which are all below Rs 2,000, there will be no charge, according to him."
PhonePe Crosses 11 Billion Monthly UPI Transactions in August; Google Pay Nears 8 Billion
CXO Digital Pulse
"PhonePe crossed the 11 billion monthly transaction mark on the Unified Payments Interface (UPI) in August, while Google Pay moved closer to 8 billion transactions, according to data released by the National Payments Corporation of India (NPCI). The Walmart-backed digital payments platform accounted for 45.64% of the total UPI transaction volume in August. Google Pay accounted for 32.26% of the total UPI transaction volume and Paytm continued to hold the third position among UPI players."
On the wires
Travelxp Launches Marco, India's First Travel AI Agent That Can Book and Pay for Trips
EIN Presswire
"Travelxp, India's first content-led travel commerce platform, has launched Marco, an agentic AI trip concierge, the first of its kind from an Indian travel platform. Marco can discover, plan, book and pay for a trip on a traveller's behalf, within spending limits the preset by the traveller. Marco returns to the traveller for approval when a decision falls outside the limits they've set. Marco also stays active after booking - If a flight is delayed or prices shift, it can assess the impact on the rest of the itinerary and adjust connected bookings."
September 15, 2026
Top Post
India Ends Free Ride for Larger Transactions on Its Ubiquitous Digital Payments Network
TechCrunch
"India has put a price on larger transactions on its digital payments network, ending years of free processing for merchants. The country’s Unified Payments Interface (UPI) will impose a 0.4% merchant fee on certain payments above ₹2,000 (about $21) from October 15, the National Payments Corporation of India (NPCI) said. Consumers will continue to use the service for free, NPCI said. UPI’s merchant fee is capped at ₹300 (about $3) for transactions of ₹75,000 (around $783) or more, while payments of ₹2,000 or less will remain free for merchants."
September 11, 2026
Top Post
UPI-Zelle Bridge: India’s Digital Payment System May Soon Launch in the US for Easier Money Transfers
India Today
"India's cashless payments system, Unified Payments Interface (UPI), is likely to be available to people in the US by the end of this year, making transactions by NRIs and professionals working there much easier. The Bank of America (BofA) is working on a pilot project to link Zelle of the US to India's UPI."
On the web
NPCI Plans Vetting System For AI-Driven UPI Transactions As Agentic Commerce Buzz Grows [India]
NDTV
"As it gets ready to implement autonomous "agentic payments" via the Unified Payments Interface (UPI), the National Payments Corporation of India (NPCI) intends to create a national AI registry to identify, screen, and verify AI agents, Reuters reported. The register will be a component of the NPCI's proposed Unified Agentic Protocol, which will screen AI agents that handle user payments, the news agency said, citing sources."
September 3, 2026
On the web
WhatsApp Launches Bill Payments in India via Bharat Connect
Sarkaritel
"WhatsApp has announced the rollout of bill payments in India, enabling users to find, manage and pay household and utility bills directly through the messaging platform. Powered by the Bharat Connect network, the new feature is being introduced gradually and will become available to all Android and iOS users across India in the coming weeks. The WhatsApp bill payments feature will provide access to approximately 22,722 billers across 30 categories, covering essential household and financial payments."
On the wires
India Stalls Alipay+ Payments Link over Security, Data Concerns, Sources Say
Reuters
"Alipay+'s proposal to link with India's instant payments system for cross-border transactions has been stalled due to national security concerns in New Delhi and questions about the storage and use of customer data, three sources familiar with the discussions said. The proposal, made by Alipay+ in January, was the first by a China-linked entity in the financial services sector and came against the backdrop of easing tensions between the two neighbours, which had a deadly border clash in 2020."
September 1, 2026
On the web
Agentic Payments UPI Rollout Being Prepared In India
StratNews Global
"India is preparing to bring artificial intelligence agents into everyday digital payments, potentially allowing them to make small transactions without requiring approval each time. Sources familiar with the matter said a new framework could allow AI agents to make payments through the Unified Payments Interface, or UPI. If introduced, the system would make India one of the first countries with national infrastructure for agentic AI payments."
August 31, 2026
On the web
Happy Birthday, UPI. You Changed India. But Who is Paying for the Cake?
Open Magazine
"UPI has turned ten. Citizens will continue using it free, but Parliament has removed the legal barrier to charging selected merchants. India’s greatest payment innovation has won the adoption war. Its second decade begins with a harder question: who will finance the miracle?"
August 21, 2026
On the web
India Built the World’s Biggest Digital Payments Miracle. Now Comes the Bill
BBC
"For most Indians, paying by Unified Payments Interface (UPI) has become almost absurdly routine. Scan a QR code, tap a few buttons and the money moves instantly. There is no card machine, no cash, and - most importantly - for the user, no visible fee. That may be about to change. India has paved the way for banks and payment companies to charge merchants a fee on UPI transactions, potentially ending a decade-long experiment in free digital payments."
August 18, 2026
On the web
WhatsApp Pay Overtakes Cred and Amazon Pay to Race up the UPI Charts
VARINDIA
"WhatsApp Pay has sharply expanded its presence in India’s UPI market. Its transaction volume was more than twice the 74.6 million transactions recorded in the same month last year. The Meta-owned messaging platform’s payments service is now the eighth-largest UPI app in India by transaction volume. The sharp rise in payments activity comes around 19 months after the National Payments Corporation of India (NPCI) removed restrictions on WhatsApp Pay’s user onboarding in December 2024."
August 14, 2026
On the web
India Expands Test of Digital Rupee
Big News Network
"New Delhi has extended the pilot scheme of Central Bank Digital Currency to two more federally administered territories India has expanded a pilot scheme that uses Central Bank Digital Currency (CBDC) to transfer welfare payments to two federally administered territories, as it races ahead with testing the digital rupee among a wider audience."
August 12, 2026
On the web
UPI Transaction Levy: How India’s Proposed Fee Is Linked to US Trade Concerns
The Kanal
"The Finance Ministry has introduced a Bill that would allow banks and payment system providers to charge fees for UPI and RuPay debit card payments. UPI is used in India because transactions are convenient and generally involve zero transaction charges for users. RuPay is also an Indian card network that has expanded its presence in the domestic payments market. According to the report, US payment companies Visa and Mastercard raised concerns about the loss of business as Indian consumers increasingly use UPI instead of card payments."
On the wires
Bank of America Enters into a Joint Venture Agreement with Jio Financial Services Limited to Acquire up to 49.9% in Jio Credit Limited
PR Newswire
"Jio Financial Services Limited (JFSL) and Bank of America Corporation (BofA) announced that they have signed a definitive agreement whereby BofA will acquire up to a total of 49.9% interest as a joint venture partner in JFSL's wholly-owned NBFC (non-bank financial company) lending subsidiary, Jio Credit Limited (JCL) through a preferential allotment of equity shares and warrants. The venture will combine JFSL's digital reach and knowledge of the Indian market with BofA's global financial services expertise."
August 11, 2026
On the web
Apple Pay Might Finally Launch in India, but Without UPI Support: 3 Key Things to Know
India Today
"Apple Pay could finally be making its long-awaited India debut, with the service reportedly set to arrive by September-end or October. The initial version is expected to focus on credit cards running on networks such as Visa and Mastercard. The reason is that bringing UPI to Apple Pay would require approval from the National Payments Corporation of India (NPCI), along with a banking partner that can sponsor the transactions. Apple therefore appears to be taking a card-first approach instead."
BRICS Is Talking Payments Links, From Fast Rails To CBDCs
Finimize
"BRICS members are weighing ways to link their instant payment networks – and possibly connect central bank digital currencies ahead of India hosting the 2026 BRICS summit. Talks are still preliminary, but the goal is to make cross-border payments cheaper and smoother. One option is to connect existing “fast payment” rails so a transfer can route directly between countries instead of bouncing through multiple intermediary banks. A bigger leap would be making central bank digital currencies (CBDCs) work across borders."
August 5, 2026
On the web
Indian Govt Serves up the UPI MDR Removal That the Payments Industry Has Been Waiting For
Medianama
"The Indian government appears to be preparing to let banks and payment apps charge merchants for UPI transactions again, by amending the Payment and Settlement Systems Act to undo the zero-MDR regime it had initiated in 2019. The government is looking to amend the same section, in order to enable charging of MDR to merchants, with the MDR determined by government notification."
August 4, 2026
On the web
India Paves Way for Return of Merchant Fees on Digital Payments
MarketScreener
"India has moved a step closer to reintroducing merchant fees on transactions made through its Unified Payments Interface (UPI) after proposed changes to the country's payments laws were introduced in parliament on Tuesday. An amendment to India's Payment and Settlement Systems Act, tabled in parliament by Finance Minister Nirmala Sitharaman, would allow the introduction of a merchant discount rate (MDR) on digital payments. No decision has yet been made on the level of fees or where they would apply."
August 3, 2026
Top Post
NTT Data Payments to Take UPI Global
The Times of India
"NTT Data Payment Services is working on linking India's UPI with other fast payment systems across Asia through a hub based architecture to eliminate the need for multiple bilateral arrangements. The company launched Adaptis - its brand for its digital payment suite. Cross-border payments rely on one-to-one country links, slowed by regulatory and settlement gaps. NDPS instead builds a shared-switch layer with central banks or switching firms across Japan, Thailand, Malaysia, or India-linking domestic systems into a single network at scale."
July 24, 2026
On the web
Indian Payments Firms Oppose One-Click UPI Checkout Proposal, Citing Competition Risks
Yahoo Finance
"Several Indian digital payments firms have opposed a proposal that would allow merchants to store customers' preferred Unified Payments Interface option for one-click checkouts, arguing it could entrench the dominance of the bigger payment apps. The proposed framework, referred to as UPI Meta or UPI Checkout, would let users save a preferred payment handle or linked bank account with merchants, eliminating the need to select a payments app each time they make a purchase."
July 23, 2026
On the web
Smaller UPI Apps Urge NPCI to Rethink UPI Meta Launch, Warn of Deeper Phonepe-Google Pay Dominance
Money Control
"Smaller UPI apps urge the National Payments Corporation of India (NPCI) to rethink the launch of the UPI Meta protocol, warning it could inadvertently entrench the dominance of PhonePe and Google Pay. NPCI runs UPI, the country’s most popular digital payments platform. The industry representation follows NPCI's push to roll out UPI Meta, a tokenisation layer, under which users can save their preferred UPI app on merchant platforms such as Amazon, Blinkit or Swiggy and authenticate payments using their UPI PIN or biometrics."
Decoded: How Offline UPI Can Keep Digital Payments Running Without Internet [India]
Business Standard
"The payments body is developing an offline UPI system that could allow users to make tap-and-pay transactions even when both the customer's smartphone and the merchant's point-of-sale (PoS) terminal are offline. Instead of relying on instant bank authentication, the proposed system is expected to use Near Field Communication (NFC), secure offline token storage and deferred settlement once connectivity is restored."
Take us with you
Payments on Fire is available on Apple Podcasts, Spotify, Google, and other podcast apps and services.
Watch new video episodes on our YouTube channel.