India is forced to subsidize farmers to the tune of $37B JUST for urea. Governments routinely offer free bus services to women, free cash handouts to women, free electricity to farmers (who then use the power to pump out groundwater and grow paddy in areas otherwise not suitable for it). The list goes on.
A $1B subsidy to eliminate friction on the payment front is peanuts.
One of the reasons why the fee is being considered is under the pressure of other payment providers who are loosing to UPI in Indian market. Its been believed to be one of the negotiation points by the US-India trade deals
Pennywise, pound foolish decision.
India is forced to subsidize farmers to the tune of $37B JUST for urea. Governments routinely offer free bus services to women, free cash handouts to women, free electricity to farmers (who then use the power to pump out groundwater and grow paddy in areas otherwise not suitable for it). The list goes on.
A $1B subsidy to eliminate friction on the payment front is peanuts.
One of the reasons why the fee is being considered is under the pressure of other payment providers who are loosing to UPI in Indian market. Its been believed to be one of the negotiation points by the US-India trade deals
Nope, it's a bargain and exactly what governments are for. If the US thought like you, we wouldn't have highways. It's 70¢ per Indian.
The Australian experience of allowing a transaction fee is simply that every single transaction adds the maximum amount.
After whatever maybe 15 years that have banned the practice.