PhonePe CEO assures UPI payments will remain free for consumers

A man named Sameer Nigam, the boss of a big Indian payment app called PhonePe, told everyone that paying with UPI will stay free for people who use it.

Some people were worried that they might have to pay a fee to use UPI, which is how millions of Indians pay for things using their phones.

He wrote on a social media site called X to clear up the confusion.

He explained that the discussion was about how to keep the UPI system safe and working well, not about charging people.

UPI handles more than 9,000 payments every second, which is a lot.

Keeping it running safely costs money because bad people sometimes try to cheat the system.

Banks, payment companies, fintechs, the National Payments Corporation of India and the Reserve Bank of India have been working on this for the last decade.

The money is needed to fight fraud, keep the system running without stopping, and create new improvements.

So, for now and for the future, making UPI payments will not cost consumers anything.