New Delhi: The craze of Unified Payment Interface ( UPI ) for online payment is increasing continuously in India. Now people prefer to use UPI even for purchasing grocery items. On making payment through UPI, the user has to pay transaction fees (UPI Transaction Fees). However, transaction fees are charged according to the payment.

Localcircles conducted a survey regarding user transaction fees. According to this survey report, if the transaction fees of UPI increase, then 75% of users will not use UPI . The survey report found that 38% of users make payments through UPI instead of using debit card, credit card or any other source for transactions.

UPI transactions may decrease

Localcircles survey report said that after the increase in transaction fees, 22 percent of users said that they will still use UPI. Whereas 75 percent of UPI users said that after the increase in transaction fees, they will not make payments through UPI.

Localcircles said that this survey was conducted in 308 districts. 42,000 responses were received in this. This survey was conducted between 15 July and 20 September.

UPI transactions are constantly increasing

The National Payments Corporation of India (NPCI) said that there has been a 57 percent increase in the number of UPI transactions. The volume of UPI transactions has increased by 44 percent in the financial year 2023-24 as compared to the previous financial year.

This is the first time that UPI transactions have crossed 100 billion. At the same time, UPI transactions were 84 billion in the financial year 2022-23, which reached around 131 billion in FY24.