Recently a post went viral on social media claiming that the Government is considering levying Goods and Services Tax (GST) on UPI transactions over ₹2,000. Facebook Link | Archived Link. However, as we investigated, we came to know that the claim was false. Here’s the fact check. Fact Check We started our investigation by conducting […]
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Many social media users have claimed that UPI transactions over Rs.2000 will be charged 1.1% as interchange fee from 1 April 2023. However, we found that UPI transactions remain free of cost. Only PPI merchant transactions over Rs.2000 will be charged 1.1% as interchange fee. Social Media Narrative View post here – Instagram | Archived […]
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Google Pay and NCPI has clarified that the viral claim is false and Google Pay operates as UPI app that is recognized has a third party app, which does not require to be a ‘payment system operator’. The RBI’s official spokesperson has also refuted the viral claim. An image showing the Governor of RBI, Shaktikanta […]
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The RBI discussion paper merely sought public feedback and suggestions on charges to be applied to UPI transactions. India is leading in the digital payment sector with over 260 million digital payment transactions daily. More than two-thirds of these 260 million transactions are processed by the Unified Payments Interface (UPI) system. Just last month, UPI […]
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