Nowadays we all use UPI a lot for small and big shopping, right? From the vegetable to the big shopping mall, the practice of ‘scan and pay’ everywhere has become common. Money is transferred in minutes and there is no mess. The government is also promoting it a lot.
But now think, if you start getting some benefit on this UPI payment, then how will it be? Yes, there are reports that the government is considering a scheme that will make you pay for UPI 2% discount or cashback Can be found! Meaning, if you bought goods worth 100 rupees, then 2 rupees back in your pocket! The government aims to further promote online payment. But, keep in mind, now it is being said only in media reports, no confirmed announcement has been made by the government. Still, this news is really interesting!
Credit card cheaper and beneficial UPI?
It is being said that this new scheme will make UPI payment even cheaper and beneficial than the credit card. Right now when we pay with a credit card, the shopkeeper has to pay a fee, which is called MDR (Merchant Discount Rate). Often its burden falls on the customer somewhere.
Under the new scheme, UPI payment will probably not be charged any such fees. This will not only benefit the customers, but the shopkeepers will also get the full amount and they will not be able to charge any additional fee from the customers. This can really prove to be a great scheme for people.
How long can this new scheme come?
So the question is, by when can this magnificent plan start? According to media reports, the government before implementing this scheme In June 2025 E-commerce companies, banks, NPCI (National Payments Corporation of India), will hold talks with companies offering payment service and customer organizations. Only after this conversation will the entire blueprint of the scheme be prepared and will be decided how to implement it.
By the way, let us tell you that Payments Council of India (PCI) has already been demanding to put MDR on UPI and RuPay debit cards, so it has to be seen what the government decides on this new discount scheme. If this scheme is implemented, it will be another big step towards Digital India and the common people will get more encouragement to make online payment.
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