A recent survey on UPI users conducted by LocalCircles has shown some very interesting results regarding the future of UPI Payments in India. The survey asked the users whether they would continue to use the service if transaction fees were imposed.
In response to this, a whopping 75% of the users overwhelmingly voted against the proposal, thus making their intentions extremely clear that they would immediately stop using apps like Google Pay, PhonePe, and PayTM if the proposal were to ever come to light. What is surprising is that 22% of the users voted in favour of some kind of transaction fees being levied on them.
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This survey was done in over 308 districts. The responses collected were more than 42,000. This sample size might seem big at first glance, but on comparing it with the total number of UPI users in actuality, the survey sample feels tiny.
As of now, the total UPI transactions in India have crossed the 100 billion mark, which sheds light on the astonishingly huge user base of UPI. The detailed results of this survey will be provided to the Reserve Bank of India (RBI), and the Ministry of Finance.
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This will help the government in judging the mood of the public and will give them a direct window into the hearts of the people and hopefully steer the government towards the public opinion of not adding any kind of transaction fees to UPI in the future.
