Fintech Brief — March 30, 2026
Today’s Top Stories
NPCI Cuts RuPay Credit Card UPI Fees; RBI Probes Autopay Issues
In a significant move affecting India’s digital payments ecosystem, the National Payments Corporation of India (NPCI) has revised UPI fees for RuPay credit card transactions, effective April 1, 2026. The circular reduces third-party app provider (TPAP) fees from 8 to 6 basis points for non-industry apps and from 4 to 3 basis points for industry apps. This directly impacts consumer-facing UPI payment apps like Paytm, Google Pay, and PhonePe, potentially reducing their transaction costs and improving margins on high-volume payments.1
Separately, the Reserve Bank of India (RBI) has directed NPCI to review the UPI Autopay system following rising consumer complaints about involuntary and unexplained debits. Concerns intensified towards the end of 2025, with users reporting difficulties canceling unwanted autopay mandates. This regulatory scrutiny underscores the ongoing efforts to strengthen consumer protection in India’s rapidly evolving digital payments landscape.2
RBI Proposes Stricter Digital Banking Liability Rules
The RBI has issued draft amendments to strengthen regulations on digital banking and electronic transactions, including updates to liability limits for unauthorized electronic banking transactions. The proposed revisions aim to expand customer protections, reduce complaint processing times, and introduce a compensation mechanism for small-value frauds. Regulators are seeking public feedback on these amendments by April 6, 2026, reflecting a coordinated effort to enhance fintech regulation while balancing innovation with compliance.3
India Pushes for UPI International Expansion; Global Players Eye Market
India is working to expand UPI’s global footprint through the NPCI’s UPI One World service, which aims to simplify KYC procedures for foreigners using UPI. The RBI has emphasized ongoing efforts to enhance digital payments accessibility for international visitors, with NPCI finalizing a streamlined onboarding process. Meanwhile, global fintech firms including Revolut and Pine Labs are preparing to enter the Indian market, bringing increased competition and innovation to the ecosystem.4
India’s digital payments infrastructure continues to demonstrate remarkable growth, with UPI accounting for 81% of retail digital transactions in FY 2024-25. The expansion is supported by increased smartphone penetration, financial inclusion initiatives, and infrastructure development including the Payment Infrastructure Development Fund (PIDF).