UPI has been free for 10 years: Why is India debating charges now? Digital payment

India’s UPI network has grown from just 373 transactions in its first month to more than 23 billion transactions in a single month. But as the system scales, a bigger question is emerging: who pays for the infrastructure behind “free” UPI payments? From the role of MDR and government incentives to the debate over potential charges on large-value transactions, here’s why India is rethinking the economics of its most popular digital payment system.