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

Dilip Asbe, MD and CEO, NPCI

Subrata Panda Mumbai

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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

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

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