Top tech and startup stories to start your day with
This edition of ETtech Morning Dispatch covers top tech and startup stories. The draft fee on UPI, which will be implemented soon, is set to significantly benefit banks. Issuing banks will receive 40% of the proposed 40 basis point fee, while payment apps and acquiring banks will each receive 30%. This move may apply to merchants with an annual turnover of Rs 1-1.5 crore and transactions exceeding Rs 2,000.
UPI processed 15.51 billion merchant payments in August, and Jefferies estimates the high-ticket cohort could generate Rs 5,000-10,000 crore in annual MDR revenue. A new class of robot workers is emerging due to the rise of physical AI, with staffing firms and robotics startups hiring people to operate, supervise, and maintain machines.
Meanwhile, Anthropic researcher Jacob Coxon's exit has sparked a debate over the risks of advanced AI and human control over increasingly powerful systems.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
