New Delhi, Aug 22, 2022: The Finance Ministry has clarified that no service charges would be levied on UPI transactions.
“UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means,” the Finance Ministry tweeted on Sunday night.
“The government had provided financial support for Digital Payment ecosystem last year and has announced the same this year as well to encourage further adoption of Digital Payments and promotion of payment platforms that are economical and user-friendly,” it added.
It may be recollected that a few media reports were hinting at possible charges on UPI transactions.