UPI payment: In today time, everyone is doing online transactions and now a big news related to this is coming out. In fact, in the future it may be that you have to pay a charge for UPI payment.
National Payments Corporation of India (NPCI) chairman Dilip Asbe. He said that these big merchants may have to pay a fee for making UPI payments in the next 3 years. “Our focus at the moment is to provide a viable payment option for cash and increase the acceptability of Unified Payments Interface.
Dilip Asbe, head of the National Payments Corporation of India (NPCI), said appropriate charges will be levied on a long-term basis. All this will not be on small traders but on big traders and there is no information about when it will be implemented. It can be after 1 year, 2 years or 3 years. The issue of charging on UPI is a contentious one and such a demand is constantly being raised from the industry. The government currently compensates entities in the ecosystem for such transactions.
Increased security budget
Further, he informed that spending on cyber security and information security has been increased from 10% to 25%. He said the risk appears to be increasing and hence there is a need to increase the security expenditure. However, in the future, a lot more money will be needed to add other searches and more people, and for incentives such as cashback.Another 50 crore people need to be added to this system.
For your information, transactions through the UPI platform have crossed the 100 billion mark in the calendar year 2023 and closed at Rs 118 billion. An increase of 60% has been recorded from the previous figure of Rs 74 billion.