InvestorQ : How does reduction in UPI charges help consumers?
Neha Samdani made post

How does reduction in UPI charges help consumers?

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Sadaf Khan answered.
1 year ago
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National Payments Corporation of India (NPCI), which runs the Unified Payments Interface (UPI) network, has reduced usage fees for small transactions. This decision was taken in order to expand UPIs adoption among banks and payment service providers (PSPs).

Charges have been reduced to 10 paise from 25 paise for transactions up to Rs 1000.

The charge for transactions above Rs 1000 has been maintained at 50 paise.

This reduction in UPI charges will help consumers as the banks and service providers will be able to offer more cashbacks and incentives.

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