India's NPCI will launch the UPI Vyapaar Saksham Scheme to expand digital payments among small merchants.
The initiative targets Tier 3 to Tier 6 centres, North-Eastern states, and the Union Territories of Jammu and Kashmir and Ladakh.
Small merchants with annual turnover up to Rs 40 lakh are eligible for incentives including Rs 300 for QR code installation and Rs 750 for soundbox deployment.
The scheme also offers a 0.03% incentive on transaction value, with an additional 50% for merchants in targeted geographies.
NPCI anticipates the deployment of 60 lakh to 1 crore new QR codes and 5 lakh to 10 lakh soundboxes annually.