Stop Spreading Rumours UPI is Free for Users and you don’t have to pay any charge or fees for Personal (P2P) & Merchant (P2M) Transactions

Let me help you understand this No need to Panic UPI Payments will remain free, nothing changes for you, there won’t be any charge on UPI Bank Transfers

The new proposal is only applicable for Wallets/PPI Where UPI transactions made via Prepaid Payments Instruments (Such as Wallets, Credit Cards) will have an Interchange Fees

It will carry an Interchange Fee of 1.1% for payments made to merchants, that too only on transactions above ₹2,000 made to online & offline merchants Again, Users don’t need to pay anything, just the same way you use your Debit and Credit Card

You may also refer to the Official Circular by NPCI As explained earlier, the Interchange is only applicable when you make payments via Wallets (Paytm, PhonePe) that too is not charged to you

Clearly says, Unified Payments Interface (UPI) using Prepaid Payment Instruments (PPI) will be subjected to charges 1.1% on the transaction amount for amounts over ₹2,000

Now How Wallets will work with UPI? You may have missed this but NPCI recently introduced Wallet Interoperability with UPI That means your Paytm, Amazon Pay or PhonePe etc Wallet Balance (Not Bank Account) can be used to pay on UPI Read More via @anshul gupta

Two Facts a) Majority of UPI Transactions are less than ₹2000, so no Interchange at all b) Most people use UPI with Bank Accounts only, can’t understand where this unnecessary misinformation coming from Please RT for Awareness & Follow @Ravisutanjani for more

More Importantly Finance Ministry & Government is absolutely clear on their stance of making UPI Free for the Public There was a similar rumour last year “Digital payments a public good, no plans to levy charges: Finance minister Nirmala Sitharaman” https://m.economictimes.com/news/economy/policy/digital-payments-a-public-good-no-plans-to-levy-charges-finance-minister-nirmala-sitharaman/articleshow/93816256.cms…