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Surjewala Seeks Annual Fees From Foreign UPI Platforms
Randeep Singh Surjewala is a Congress leader in India.
He criticized the government’s approach to foreign-owned payment apps using UPI.
He said PhonePe and Google Pay handle about 80% of UPI payments.
He argued that these companies should pay an annual fee of $50 million to $100 million.
Surjewala also said payment data about people’s spending is very valuable.
He claimed the platforms may receive part of new UPI-related revenue.
PhonePe is owned by Walmart, according to the article.
These are Surjewala’s claims and proposals, rather than an announced government policy.
Congress leader Randeep Singh Surjewala proposed annual participation fees of $50 million to $100 million for dominant foreign UPI players.
Surjewala claimed PhonePe and Google Pay process about 80% of India’s UPI transactions.
He said this represented ₹320 lakh crore of UPI business out of a claimed total of ₹400 lakh crore.
Surjewala argued that payment platforms could gain revenue under proposed UPI transaction-related changes.
He also said transaction data on millions of Indians’ spending behavior has significant commercial value.
- Who
- Congress leader Randeep Singh Surjewala, along with the UPI platforms PhonePe and Google Pay.
- What
- Surjewala called for a $50 million to $100 million annual participation fee for dominant foreign UPI players and criticized their role in the payment system.
- Where
- India’s Unified Payments Interface ecosystem.
- When
- The remarks were posted on X on September 16, 2026.
- Why
- Surjewala argued that foreign platforms benefit from large transaction volumes and valuable data about Indians’ spending behavior.
Surjewala’s criticism
Government and platform position
Annual participation fees
Surjewala’s criticism
Surjewala said the government should have imposed a $50 million to $100 million annual fee on every dominant foreign UPI player.
Government and platform position
The article does not provide a response from the government or the payment platforms on the proposed fee.
Foreign platforms’ UPI role
Surjewala’s criticism
Surjewala argued that PhonePe and Google Pay’s claimed 80% share gives foreign-owned companies a dominant position in India’s UPI ecosystem.
Government and platform position
The article does not include an alternative market-share assessment or a response from PhonePe or Google Pay.
Value of payment data
Surjewala’s criticism
Surjewala said data on Indians’ spending behavior is a valuable economic asset that the government should have considered when designing the system.
Government and platform position
The article does not report the government’s or the platforms’ position on the commercial value or treatment of this data.
Key facts
- Proposed annual fee
- $50 million to $100 million for each dominant foreign player, according to Surjewala.
- Platforms named
- PhonePe and Google Pay.
- Claimed combined UPI share
- About 80% of UPI transactions, according to Surjewala.
- Claimed transaction value
- ₹320 lakh crore out of a claimed total of ₹400 lakh crore.
- PhonePe ownership
- The article identifies PhonePe as owned by Walmart.
- Transaction data
- Surjewala described spending-behavior data from millions of Indians as commercially valuable.
- IPO reference
- The article says PhonePe paused its Indian IPO in March 2026 after its valuation fell below $10 billion.
Quotes
Randeep Singh Surjewala
Congress leader who criticized the government’s UPI policies
“80% of UPI transactions are processed through two American companies, ‘PhonePe’ & ‘GooglePay’. This means that Rs. 320 Lakh Crore of UPI business out of a total of 400 lakh crore will be processed by two American companies.”
businesstoday.in
“Instead of paying the money for processing UPI transactions, a participation fee of USD 50 to 100 million could have been imposed.”
businesstoday.in
Sources
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