NDTV·2 min read·medium
UPI Will Stay Free For Consumers And Small Merchants: Payments Council
✦AI Summary
The Payments Council has clarified that UPI transactions will remain free for consumers and small merchants. This follows concerns sparked by a new Bill that allows the government to authorize service providers to levy charges on UPI payments.
The statement comes a day after the Lok Sabha passed a Bill to amend the Payment and Settlement Systems Act, 2007, which authorises the government to permit banks and other service providers to levy charges on payments through UPI.
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