You don't have to pay charges on UPI transactions !!! Recently, a circular from NPCI was released, which says, "NPCI recommends up to a 1.1% interchange fee on UPI transactions of over 2,000 via PPIs. But people on social media wrongly interpreted that customers have to pay 1.1 percent charges for use of UPI, which means UPI is no longer free. That is a completely wrong interpretation In reality, merchants have to pay up to a 1.1 percent interchange fee on UPI transactions of over 2,000 via PPIs (prepaid payment interfaces). PPl means digital wallet, e.g., Paytm wallet, Phonepay wallet, etc. But UPI payments made from a bank account will remain free, and even person-to-person (P2P) and person-to-merchant (P2M) transfers from bank accounts and wallets are also tree. Also, the PPl issuer shall pay 15 basis points as a wallet loading service charge to the remitter bank (the account holder's bank) for loading transaction values greater than Rs 2,000. This means when a customer loads a d...