UPI Payment Charges Latest News: The government is not considering any charges on UPI services, the Finance Ministry clarified today. The Ministry said that the concerns of UPI service providers for cost recovery should be met through other means. He also noted that UPI is a digital public good with immense convenience for the public and productivity gains for the economy.
“UPI is a digital public good with immense convenience to the public and productivity gains to the economy. There is no consideration for the government to charge any charges for UPI services. The concerns of service providers for recovery of costs must be met by other means The government had given financial support #DigitalPayment ecosystem last year and has also announced the same this year to encourage adoption #DigitalPayments and the promotion of cheap and easy-to-use payment platforms,” the Ministry of Finance said in a series of tweets.
The Finance Ministry’s clarification comes days after the Reserve Bank of India (RBI) sought public comments on the payments and nature of UPI.