Amid the discussion over transaction charges following the passage of a new tax amendment bill in Lok Sabha, PhonePe CEO Sameer Nigam said that UPI payments will continue to remain free for consumers. He assured the consumers of no additional burden on making UPI transactions.
On Saturday, Nigam posted on X: “UPI is and will remain free for all Indian consumers!” Consumers will NOT BE CHARGED anything for making UPI payments, he added.
The clarification from PhonePe CEO comes amid a debate over the proposed Merchant Discount Rate (MDR) on certain UPI transactions. The proposal raised doubts if consumers would be eventually charged for using UPI.
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