UPI transactions to remain free, Finance Ministry
The Government is not considering any charges on UPI services, the Ministry of Finance today clarified. The Ministry said that the concerns of the UPI service providers for cost recovery would have to be met through other means. It also noted that UPI is a digital
public good with immense convenience for the public and productivity gains for the economy.
In Twitter, the official Ministry of Finance Page tweeted following message
“UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means.
The Govt had provided financial support for #DigitalPayment ecosystem last year and has announced the same this year as well to encourage further adoption of #DigitalPayments and promotion of payment platforms that are economical and user-friendly”