Will users stop using UPI if transaction fees are imposed?

UPI Survey: An online survey by LocalCircle has revealed that if transaction fees are imposed on the popular mobile payment system Unified Payment Interface (UPI), most of the users will stop using it. For your information, let us tell you that in the survey, a large number of people claimed that they have experienced transaction charges being imposed on their UPI payments one or more times in the last one year.

Survey conducted in more than 364 districts

LocalCircle said on Sunday that more than 34,000 people from more than 364 districts had given their opinion in the survey. Of these, 67 percent were men and 33 percent were women. The Reserve Bank of India released a discussion paper in August 2022, proposing to impose a composition charge on UPI payments based on different amounts. However, the Finance Ministry later clarified that there is no proposal to impose charges on UPI transactions.

23 percent UPI users ready to pay transaction fee on payment

The survey said that only 23 percent of UPI users are ready to pay transaction fees on payment. 73 percent of people surveyed indicated that they would stop using UPI if transaction fees were implemented. The survey revealed that about 50 percent of UPI users make more than 10 transactions every month.

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