After several reports of possible levies surfaced unified payment interface ,is iTransactions in view of a reserve bank of india ,reserve Bank of India) Report, India Finance Ministry It has been clarified by tweeting that there will be no charge on the service.
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“There is no thought in the government to levy any charges for UPI services. The concerns of the service providers for cost recovery will have to be met through other means.” ministry of finance tweeted.
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In a discussion paper released earlier this month, RBI had said that UPI is a fund transfer system. raid and therefore can be charged.
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Another tweet from the ministry said, “The government provided financial support for the #DigitalPayment ecosystem last year and this year also announced the same to promote the adoption of #DigitalPayments and payment platforms that are affordable and user-friendly. suited.”