No UPI fees for users, confirms Finance Ministry
Good news if you use UPI—there are no plans to charge users any fees for transactions, the Finance Ministry confirmed.
This reassurance follows some buzz after RBI Governor Sanjay Malhotra talked about making digital payments sustainable, but he clarified that he never said users would have to pay fees.
UPI and RuPay debit card payments have stayed fee-free
UPI and RuPay debit card payments have stayed fee-free since January 2020 to help more people go digital.
Even though banks now charge payment aggregators like Razorpay and PayU (not end-users), UPI usage keeps skyrocketing—July 2024 saw billions of transactions worth trillions of rupees.
The government's incentive scheme has also pumped over ₹8,700 crore into supporting small merchants and keeping digital payments accessible for everyone.