"UPI Free for Consumers": Payments Council Of India Debunks Rumours On Consumer, Merchant Fees
Amid growing speculation over the possibility of charges on Unified Payments Interface (UPI) transactions, the Payments Council of India (PCI) has issued a clarification, stating
Amid growing speculation over the possibility of charges on Unified Payments Interface (UPI) transactions, the Payments Council of India (PCI) has issued a clarification, stating that consumers and small merchants will continue to use UPI without paying any transaction fees.
In a post on X, the industry body sought to address what it described as misconceptions surrounding merchant discount rate (MDR) and UPI charges, emphasising that no proposal seeks to impose fees on individual users or small shopkeepers.
Consumers will continue to use UPI for free The PCI said UPI has remained free for consumers since its launch in 2016 and there is no change in that position. It reiterated that every Indian can continue making instant digital payments without paying transaction charges.
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