Business
NPCI postpones digital payment fee hike as UPI users receive Diwali gift
The National Payments Corporation of India has delayed its plan to impose additional charges on digital transactions, following a festive gift to UPI users ahead of Diwali.
The National Payments Corporation of India (NPCI) announced that it is postponing the implementation of a proposed additional fee on digital payments, keeping the current cost structure unchanged for now.
The postponement follows a recent initiative that awarded a substantial Diwali gift to users of the Unified Payments Interface (UPI) ahead of the festival, a move widely welcomed by consumers and merchants alike.
The fee hike, under discussion for several months, was intended to offset rising operational costs for payment service providers. NPCI said the festive season and the recent gift prompted a review of the timing and impact of the proposed charge.
By deferring the fee, NPCI aims to maintain the momentum of digital transactions during the peak shopping period associated with Diwali, ensuring that consumers continue to benefit from cost‑free UPI payments.
NPCI indicated that the matter will be revisited after the festive period, with stakeholders expected to provide further input before any final decision is taken.
The postponement follows a recent initiative that awarded a substantial Diwali gift to users of the Unified Payments Interface (UPI) ahead of the festival, a move widely welcomed by consumers and merchants alike.
The fee hike, under discussion for several months, was intended to offset rising operational costs for payment service providers. NPCI said the festive season and the recent gift prompted a review of the timing and impact of the proposed charge.
By deferring the fee, NPCI aims to maintain the momentum of digital transactions during the peak shopping period associated with Diwali, ensuring that consumers continue to benefit from cost‑free UPI payments.
NPCI indicated that the matter will be revisited after the festive period, with stakeholders expected to provide further input before any final decision is taken.