The Payment and Settlement Systems Act, 2007 was passed in Lok Sabha, giving rise to concerns that the law would allow banks to charge fees on UPI transactions. | India News

RBI has sufficient funds to maintain the UPI platform without charging merchants or customers, despite proposed transaction fees.

Explore the potential changes to UPI fees as a new bill in Parliament raises concerns about possible charges on transactions.

The Payments Council of India clarified UPI transactions will remain free for consumers. Small merchants, including kirana stores, will also not face charges for digital payments.…

The government’s move to lift the legal restriction on banks and platforms from imposing a charge or merchant discount rate (MDR) on UPI transactions, hitherto free, has generated…

CS Setty, the chairman of State Bank of India, said that quantifying transaction costs for UPI remains a challenge. As debates about introducing potential fees for UPI merchant…

Consumers will not face any charges for UPI payments. Most merchant transactions will also remain free of cost. Any future charges will apply to limited merchant transactions…