Govt exempts B2B firms from providing UPI and RuPay as mandatory e-payment modes

The finance ministry has exempted business-to-business (B2B) firms from mandatory use of e-payments facilities such as RuPay and UPI.

In its previous order, the government had made online payments with UPI and RuPay mandatory for all businesses with an annual turnover of Rs 50 crore or more failing which a fine of Rs 5,000 per day was applicable from February 1.

The cashless payments facility through prescribed electronic modes by the government include debit cards powered by RuPay, UPI and UPI QR Code.

Continue reading Govt exempts B2B firms from providing UPI and RuPay as mandatory e-payment modes at Entrackr.

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