Charges on UPI payments: Why you should not worry

Last week there were multiple reports claiming that the government of India would start levying additional charges on UPI payments. The thought of UPI payments being charged didn’t seemingly go down well but the government of India has now clarified its stance on the whole matter.
In a tweet, the Ministry of Finance has made it clear that the government will not be imposing any charges for using UPI services.
“UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services,” the finance ministry said in a tweet.
UPI payment charges: What prompted the whole issue
UPI transactions in India have seen a tremendous growth. According to a report by PTI, in Q1 2022, in terms of volume there were over 14.55 billion UPI transactions. In terms of value, UPI transactions stood at whopping Rs 26.19 trillion.