Finance Ministry:  No move to levy charges on UPI services

There is no move in the government to levy any charges on UPI (Unified Payments Interface) transactions, the finance ministry said. It asserted concerns of service providers for cost recovery have to be met through other means.

“UPI is a digital public good with immense convenience for the public and productivity gains for the economy. There is no consideration in the government to levy any charges for UPI services,” the finance ministry said on Twitter in a series of posts.

It said the government had provided financial support for the digital payment ecosystem last year and has announced the same this year as well to encourage further adoption of digital payments and promotion of payment platforms that are economical and user-friendly.