Charges in the UPI System

Abstract

As India strides forward to move from paper-based payments to digital payments, a crucial aspect that would further acceptability is affordability of making and receiving digital payments. With the ultimate stakeholders being the public and providers of the payment system, the government has to ensure an environment where the stakeholders are able to make a rational choice to embrace at least one digital means of payment that can closely substitute for currency. With UPI being the front runner that is allowing people to happily migrate from currency usage to digital payments, the government and RBI must provide full support to keep UPI on rails, just like they have been supporting the currency based payment system of the country.