Charges on UPI:
UPI seems to be great, but does it come at a cost?
At present, there are no charges for UPI transactions, both P2P and P2M (Person to Merchant). But as the user base saw new heights, some banks started making announcements to their customers about the charges for P2P UPI transactions.
Kotak Mahindra Bank is the first bank to announce charges for P2P transactions made through UPI. They will not charge for the first 30 transactions in a month but there will be a charge beyond the cap.
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India retains the top spot with 25.5 bn real-time payments transactions, followed by China with 15.7 bn transactions. We are using these Services in our daily life.
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