Will UPI remain free to use? | Explained

In a recent press conference, Reserve Bank of India (RBI) Governor Sanjay Malhotra said that “someone will have to pay the cost” of UPI transactions. File photo for representational purposes only. | The story so far: Payments made on the Unified Payments Interface (UPI) platform have been free so far. However, a new law introduced by the government seeks to change this and allow banks and UPI companies to charge merchants for certain UPI payments.The fear is that these merchants will, in turn, pass these charges on to customers. Published - August 06, 2026 12:02 pm IST