Charges on UPI Transactions? What Govt Said

By Pranjal

The Unified Payments Interface (UPI) services won't be subject to any fees from the Indian government. According to the finance ministry, UPI would continue to be free.

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UPI is a digital public good that offers the public great comfort and boosts economic productivity.

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Following online reports suggesting that UPI transactions would be subject to a service fee, the finance ministry denied the allegations.

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The RBI discussion paper on fees in the payment system, released earlier this month.

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recommended that a tiered charge based on different amount brackets might apply to UPI payments.

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At this time, there are no fees associated with UPI transactions.

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From on January 1, 2020, the government was enforced a framework with zero fees for UPI transactions.

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