UPI transactions will remain free for customers: Payments Council of India

In a move to dismiss concerns about reports of potential merchant fees, the Payments Council of India (PCI) announced on Friday that Unified Payments Interface (UPI) transactions will remain free for customers and that small enterprise, including kirana stores, will not be charged for accepting digital payments.

The explanation comes with discussions about the implementation of merchant fees for specific company categories and the rising concern over the sustainability of India’s digital payments ecosystem.