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The government is making a new plan to promote UPI transactions. Scanning the UPI code to shop can prove to be cheaper for you by swiping credit cards. If the efforts being made by the Ministry of Consumer Affairs on payment transaction fees are successful, then customers will directly benefit.

Let us tell you that, on payment with credit card now, the seller has to pay 2-3 percent MDR (a kind of charge). Most vendors pay this charge on their own. (In some situations, customers can also be asked to pay this charge). For example, if a customer purchases Rs 100, payment through credit card will cost an MDR charge, which the seller will pay, he will get less amount from the payment made by the customer. At the same time, if the customer pays through UPI, then there is no MDR charge on him, in such a situation, the seller will get the full amount. In such a situation, the government wants to provide that charge to customers on UPI payment. With this, only Rs 98 will have to be paid for goods worth Rs 100.

According to Livemint report, the government is working on a scheme that will bring the cost benefits of its unified payment interface (UPI) to the customers and encourage them to promote the use of UPI. Ministry officials will soon meet the concerned people to pursue the scheme. This step will promote the use of UPI by giving exemption during shopping. Users will get rewards on choosing zero fees digital payment mode effectively. According to the report, the Ministry of Consumer Affairs is preparing to consult several institutions including e-commerce platforms, payment service providers, National Payments Corporation of India (NPCI), Department of Financial Services (DFS) and Consumer Rights Group. The final plan can be prepared after the meeting with all in June.