2024-09-23 16:40:21
UPI is a popular online payment platform. But for some time now, there has been talk of charging for online payments. In India, Google Pay and PhonePe apps are used the most for UPI payments. In such a situation, if a charge is levied on UPI payments, then an extra charge will have to be paid for using PhonePe and Google Pay. What will happen if a charge is levied on UPI payments? A survey has been conducted regarding this, in which shocking revelations have been made.
There was talk of 75 percent people leaving UPI
According to the survey, if a charge is levied on UPI payment, then about 75 percent of people will stop making UPI payments. This survey has been conducted by LocalCircles. The survey has been conducted by LocalCircles in 6 months, in which about 44,000 people have responded. It has been conducted in 325 districts of the country. In this survey, only 22 percent of the people say that they will use UPI payment despite paying extra charges.
There has been a demand to impose MDR charge
Many popular payment apps of the country have asked the government to levy merchant discount rate (MDR) on UPI payments. In other words, just like merchants are charged for taking money through debit cards and credit cards, which the merchants pass on to the customers. Similarly, if charges are levied on UPI payments, then the merchants can pass on the burden to the customers.What is MDR charge?
Merchant Discount Rate (MDR) is a fee that is charged from merchants and business owners for collecting money through digital mode. Many firms like Amazon have advocated charging MDR on UPI payments.
Interchange rate will be applicable from October 16
As the number of technology and smartphone users has increased in India, the number of digital payments has also increased. The National Payment Corporation of India (NPCI) has recently announced interchange rates, which is like a merchant discount rate. It is levied on UPI credit link. This charge is being implemented from October 16.
4 out of 10 people are making UPI payments
According to the survey, 38 percent of the people claimed that about 50 percent of their total expenditure is spent through UPI. Let us tell you that UPI has become a popular online payment platform in India. According to the report, about 4 out of 10 people are making UPI payments in India.