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Gone are the days when people used to carry cash. Though they carry cash, people are dependent on UPI payments. The rise of digital transactions and UPI payments started in India in 2016. The Indian government announced the demonetisation of all 500 and 1000 votes and launched new votes.
With no hard cash, people started using digital payments. The payments reached a situation where we cannot imagine our day-to-day life without them. Of late we are hearing reports that the NPCI is gearing up to charge the customers on the UPI transactions. Reports said that transactions of over 2,000 would be charged.
The opposition parties and the activists started targeting the government on this. Amid this, the umbrella organisation National Payments Corporation of India(NPCI) issued a clarification saying that there is no truth in the news.
The NPCI said that no charges will be imposed on customers and charges will be imposed on Prepaid Payment Instruments (PPIs) merchant transactions.
"UPI is free, fast, secure and seamless. Every month, over 8 billion transactions are processed free for customers and merchants using bank-accounts," the NPCI said in a press release shared on Twitter.
As reports say that UPI payments come with some charges, Paytm also issued a clarification saying that there is no truth in this and customers will not be charged. The transactions either from the bank on the wallet will not be charged, said Paytm.