Finance Ministry has said that UPI will remain free of charge for consumers, and they won't face any transaction charges; merchant transactions will be free of cost. Above a particular threshold, Merchant Discount Rate cost will be applied.
Payment and Settlement Systems Act allows a provision aimed at resilience and long-term sustainability of UPI. There will be continued investment in fraud prevention and cybersecurity as the volumes of transactions grow. There were more than 29.9 lakh crore rupees in transactions alone in July, and UPI will be live in 11 foreign countries.
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