The clarification came after the Lok Sabha passed a bill allowing banks and other service providers to levy charges on UPI payments.

The Lok Sabha approved amendments to the Payment and Settlement Systems Act. This change empowers the government to permit charges on digital payment transactions. Currently, UPI…

Lok Sabha approves Bill allowing banks to charge fees on UPI transactions while promoting domestic electronic manufacturing.

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…

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…