Merchants should stop UPI?? No, because this 1.1 % interchange fee is only applicable on P2M transactions. There are three types of UPI transactions: P2P (peer-to-peer): When one person transfers money to another person using UPI or a wallet, in this case no one has to bear the charges and 82 % UPI transactions are P2P-based. @P2PM (peer-to-peer-merchant): When a person pays a merchant having monthly UPI transactions amounting to less than 50k Rs, in this case neither the person nor the merchant has to pay the charges, and yess, both wallet and UPI transactions are free. P2M (peer-to-merchant): when a person pays to a merchant who has monthly UP| transactions amounting to more than 50K Rs, only in this case merchant have to pay an interchange fee of up to 1.1 percent when the customer buys a product worth more than 22,000 So only P2M merchants have to pay an interchange fee on wallet transactions and bank-to-bank transfers are free. #upi #finance #merchant #nbci #bank #transaction #...