UPI stays free: Payment Council assures no charges for users, small merchants
On Friday, the Payments Council of India clarified that consumers and small merchants will continue to enjoy free UPI services despite the Lok Sabha passing a Bill to amend the Payment and Settlement Systems Act, 2007. The amendment allows banks and service providers to levy charges but ensures no transaction fees for users or MDR for small merchants. Finance Minister Nirmala Sitharaman emphasized that any future MDR would support infrastructure investment without impacting consumers. Banks and payment firms have invested heavily in UPI's development over nearly a decade, stressing the need for continued financial support to maintain security and innovation.
5 AUG 2026
— NDTV
RBI Governor Malhotra Says Premature to Confirm UPI Transaction Charges
7 AUG 2026
— NDTV
Finance Minister Nirmala Sitharaman clarified that the Merchant Discount Rate (MDR) applies to merchants, not customers, and will support financial infrastructure and security.
· THIS STORY — NDTV
The Payments Council of India reaffirmed that UPI services will remain free for consumers and small merchants despite the amendment to the Payment and Settlement Systems Act.
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