Business Standard

UPI transactions will be free until govt reviews, says NPCI MD & CEO

The NPCI quickly clarified that the circular was only pertaining to PPI-based merchant transactions on UPI and the basic UPI transactions remain completely free

Dilip Asbe
Premium

Dilip Asbe, MD and CEO, NPCI

Subrata Panda Mumbai

Listen to This Article

Charges introduced by the National Payments Corporation of India (NPCI) on specific modes of payment instruments in the United Payments Interface ecosystem may not necessarily translate into all UPI transactions.

About 99.99 per cent of all UPI transactions (account-to-account transfers) remain free for both consumers and merchants. They will continue to be free, until the government decides to review this policy.

In mid-August 2022, the finance minister had said UPI is a digital public good and ruled out any plans to introduce charges on UPI transactions.

Speaking to Business Standard, Dilip Asbe, MD and CEO, NPCI, said, “UPI as a

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 30 2023 | 8:57 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com