UPI still free, but there's a catch: Who ultimately pays & could cash make a comeback?

Recent updates to UPI regulations have introduced a Merchant Discount Rate for certain transactions. While consumers will not incur any fees for their UPI payments, merchants will face a 0.4% charge on transactions above two thousand rupees. However, person-to-person UPI transfers and payments from small merchants continue to be free. This initiative is designed to foster sustainability and innovation in the digital payment ecosystem.