There's nothing called a free UPI ride, banks among other intermediaries bear charges on every such transaction
UPI transaction.
UPI is, thus, advantaged among digital payment methods like IMPS, NEFT, RTGS, and those involving debit and credit cards and prepaid payment instruments, which are chargeable.
Questions remain over whether users or taxpayers should foot the UPI bill, and how these charges are to be structured.
UPI payments are, despite their incredible growth, not universal. This weakens the case for tax-funded development. Objective of universalising this mode of payment could be aided by cross-subsidised services.
A tiered charge fits into this scheme of things. The fee structure could become an issue in UPI's interoperability with international payments systems based on transaction charges. Without waiver of merchant charges, UPI loses its competitive advantage, and consumer choice is influenced by the value proposition of alternative payments systems. Some of these systems are built on a viable pricing architecture.
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