NPCI payment system
National Payments Corporation of India (NPCI) is an Indian public sector company that operates retail payments and settlement systems in India. The organization is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust payment and settlement infrastructure in India.
Source: Wikipedia (CC BY-SA)NPCI announced to charge merchants a fee of 0.4% of the transaction for person-to-merchant transfers of value exceeding ₹2000 as an MDR.
