A recent survey has revealed that a majority of citizens would cease using UPI if transaction fees were introduced. According to an online survey conducted by LocalCircles, a significant number of respondents reported experiencing transaction fees on their UPI payments at least once in the past year.
Of those surveyed, 73% indicated they would discontinue using UPI if transaction fees were implemented, while 23% expressed a willingness to bear such fees.
The survey, which garnered over 34,000 responses from citizens across 364 districts, comprised 67% male respondents and 33% female respondents.
In August 2022, the Reserve Bank of India (RBI) released a discussion paper proposing a tiered structure for charges on UPI payments based on different transaction amounts. However, the finance ministry clarified that there were no plans to levy charges on UPI transactions, as mentioned in LocalCircles’ report on UPI transaction fees.
Regarding UPI usage frequency, the survey found that half of UPI users conduct more than 10 transactions every month.
The number of responses varied for each question posed in the survey. According to the survey report, “37% of UPI users surveyed reported experiencing transaction fees on their UPI payments at least once in the last 12 months.”
