The survey, which garnered over 34,000 responses from citizens across 364 districts, highlighted the strong aversion towards any potential fees associated with UPI transactions. It further indicated that a large proportion of UPI users, accounting for 37 percent, have encountered instances where platforms or merchants imposed convenience or transaction fees on UPI transactions over the past year.
The survey findings shed light on the growing popularity of UPI as a preferred mode of payment among consumers for various transactions, including consumer-to-consumer and consumer-to-merchant payments. The zero transaction fee associated with UPI transactions has been a key driver of its widespread adoption, with many users expressing their reluctance to continue using the platform if such fees were introduced.
This story is from the March 05, 2024 edition of The Business Guardian.
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This story is from the March 05, 2024 edition of The Business Guardian.
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