New Delhi: The Central Government would not levy any charges on Unified Payments Interface (UPI ) services. In a tweet, the finance ministry said that UPI would remain free.

After reports circulated online that there may be the possibility of UPI transactions carrying a service charge, the finance ministry on Sunday denied the news.

"UPI is a digital public good that offers the public great convenience and boosts economic output. The government is not considering implementing any fees for UPI services. The tweet read that there must be alternative methods to address the service providers' worries about cost recovery.

The ministry said, "The Govt had announced financial support for the #DigitalPayment ecosystem last year and has done the same this year to encourage further use of #DigitalPayments and promotion of affordable and user-friendly payment platforms." 

Prior to this, Prime Minister Narendra Modi praised the 6 billion UPI transactions that occurred in July.
"This is an outstanding achievement. It demonstrates the nation of India's broad willingness to adopt cutting-edge technology and clean up its economy. During the COVID-19 outbreak, digital payments were especially useful, Modi had tweeted.

The number of digital transactions in July month was the highest ever since 2016. UPI reported 6.28 billion transactions amounting to Rs 10.62 trillion, as  per data released by the National Payments Corporation of India (NPCI).  

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