UPI Payments to Remain Free for Consumers and Small Merchants, Council Confirms

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The Payments Council of India has assured that UPI transactions will continue to be free for consumers and small merchants. The clarification came a day after the Lok Sabha passed a bill amending the Payment and Settlement Systems Act, 2007. The amended legislation grants the government authority to allow banks and payment service providers to impose charges on UPI transactions. Despite the new legal provision enabling potential charges, the Council sought to reassure users that no such fees would be introduced for everyday users and small merchants.

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