India mulls ending free UPI transactions for large businesses
Launched in 2016, UPI now serves over 550 million users and processes billions of transactions monthly.
The Business Standard17 August 2026, 8:40 AM0 readsAMP
The Indian government is reportedly considering the introduction of fees for large businesses using the Unified Payments Interface (UPI). Since its inception in 2016, the platform has become a standard payment method for over 550 million users, facilitating billions of transactions every month. Data from July shows that the system processed 23.6 billion transactions, amounting to approximately $313.5 billion in total value.
