The UPI Fee Debate: Striking a Balance Between Affordability and Sustainability
A survey report by Local Circles in March revealed a startling fact: more than 70% users may stop transacting via UPI if there is a fee! The debate over fees for UPI transactions drew everyone’s attention in August 2022 when the Reserve Bank of India (RBI) released a discussion paper proposing a tiered fee structure for UPI payments. However, the proposal was not taken forward and the government said it would not levy any charges since UPI is a ‘digital public good’.