UPI can charge so much on payment. Government, IIT-Bombai sent this important suggestion to the government

Under the existing law, a bank or provider of UPI cannot directly or indirectly charge a person making or receiving payment through UPI

Government UPI Such transactions may consider imposing a 0.3 percent uniform digital payment facility fee to finance the infrastructure required for the payment system and to ensure its financial viability। The Indian Institute of Technology ( IIT) – Bombay has suggested this in a study। The study, titled ‘ Charges for PPI Based UPI Payments – The Deception ’, states that about 5,000 crores can be raised in 2023-24 from a 0.3 percent facility fee.

Suggestion of not charging shoppers

A study analyzing the effects of the decision of the Indian National Payment Corporation ( NPCI ) to impose exchange fees on payments made through mobile wallets states that shoppers There should be no charge on the payment received, whether it comes directly through UPI or through prepaid e-wallet। NPCI has introduced a provision to deduct ‘ intercharge ’ fee of 1.1 percent of the payment amount from April 1, 2023 on paying shoppers through UPI। This will apply to prepaid wallet based UPI transactions। Under the existing law, a bank or provider of UPI cannot directly or indirectly charge a person making or receiving payment through UPI। However, on several occasions banks and system providers have attempted to interpret UPI law from their own convenience.

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