🐘 India 🇮🇳: Starting September 16, taxes can be paid through UPI with transactions up to 500,000 rupees… and news about Revolut

🐘 India 🇮🇳: Starting September 16, taxes can be paid through UPI with transactions up to 500,000 rupees… and news about Revolut

Recently, we discussed the differentiated approach of India’s Unified Payments Interface (UPI) regarding transaction limits. These limits vary by bank and payment category. For instance, in the tax payments category, the limit has been increased to $5,984.75.

➡️ The National Payments Corporation of India (NPCI) made this decision in response to citizens' preferences: UPI has 350 million users.

➡️ The NPCI has requested banks, payment service providers, and UPI apps to ensure the increase of the transaction limit for the category of verified merchants.

…And since we’re talking about India, Revolut views it as an advanced market and plans to launch its services there starting next year. The company has received preliminary approval from the Central Bank to issue prepaid cards and wallets.

#news #India

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