UPI Goes Global, But Free Transactions May Be on the Clock
Hey Payments Fanatic!
UPI is having a moment, and not just in India. With over 18 billion monthly transactions and expansion plans into new countries, India’s digital payments juggernaut is poised for global growth.
But even as the ecosystem scales, the question no one wants to ask is now front and center: can it afford to stay free?
RBI officials say financial sustainability must be part of the conversation, hinting that the era of zero-fee UPI payments may not last forever.
As UPI prepares to challenge cross-border networks, scroll down to see what’s next for India’s biggest FinTech export, and who could foot the bill if the subsidy model shifts.
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INSIGHTS
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NEWS
🇮🇳 New UPI Rules from August 1: Big changes coming to GPay, PhonePe, Paytm, and others, which will improve the ecosystem, making it smoother and more efficient by overcoming problems such as server downtimes and delays in payments through 7 new changes made by NPCI.
🇮🇳 RBI has flagged concerns over the zero-charge model. While the government supports free digital payments, the RBI has underscored the need for a revenue mechanism to keep the system running efficiently in the long run. Continue reading
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