Hello, Hive Fam!
I hope that life is treating you well wherever you are in this part of the world.
I appreciate it when the government takes some good initiatives, but I also criticize the government when they take some of the actions that are not in favour of the general public. Today, I got to see one of the news items, which is related to UPI, that is, a very popular payment method in the country. The reason why I am not happy with the news is that the government is going to apply some charges on UPI transactions. However, they are going to apply them to merchant payments only, and that is above ₹2,000. Still, I believe these charges will come back to the user indirectly.
The government is claiming that the transaction between person-to-person will be free, and there will be no charges. Even on top of that, any merchant transaction up to ₹2,000 will also be free, and there will be no charges for the user. I am concerned that the merchant will pass on the charges for transactions above ₹2,000 indirectly. Users will have no control over that because, obviously, no merchant will be happy to pay the payment charges.
UPI is a very popular payment method in India, and millions of users are using this facility to make the payment experience instant and hassle-free. But after this charge, I believe things are going to be difficult, and a lot of users might switch back to cash payments, which is not good in the 21st century!
We live in the 21st century, and the government should encourage digital programs so that more people can be part of it. I really don't know what the government is thinking or why they are doing it, because this way they might encourage people to switch back to the cash economy, which is not good. Probably a lot of merchants will be adding this cost to the users indirectly. Maybe they will also stop accepting digital payment and switch back to cash payment, which is not good again in the 21st century because we are moving towards a digital economy. Thank you.
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Maine bhi suna iske bare mein aur sach mein mujhe bhi lagta hai ki 2000 se above payments par lagne wala charge ant mein consumer ko hi bear karna padega par ismen kai loopholes bhi hain jaise ki agar aap 5000 ki payment ko 2000+2000+1000 kul 3 transactions mein karte ho to na aapko na merchant ko kuch bhi bear karna hoga. Par amount ke isse upar badhne par aap kitni transactions mein usko split kar sakoge ye bhi ek point hai Aur Mutual Funds, brokers, aadi ko honi wali payments mein to koi free limit nahi hai matlab us case mein to 0.02% or 300 rupee charge lagega hi ye mere liye sabse jada concerning hai.
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@vvodjiu I doubt you even understood this comment, since it was neither in pure English nor pure Hindi 😅, but thank you for this reward nonetheless. 😊🙏🏻
🤔 I translated it.. as I understood you were talking about the charges per transaction. you mentioned the loophole, since there is no charge for transfers of 2000 and below, a user can divide the amount. Your example was 5000. user can transfer 2000, 2000, and 1000 to avoid charges. But you were unsure if there was a limit of transactions. Is that right?
Woww!👏🏼👏🏼
You must have translated that text using Google or a similar external app, because Ecency's translation feature cannot translate Hinglish; I have tried it several times.
To answer your question: No, I am concerned about the charges that will apply to UPI transactions for mutual funds, brokers, and securities after this bill is passed.
But anyway, Thank you so much for that reward. 😊🤗
Ah, yeah.. I didn't include that part because it was too long to explain. Didn't realize it was the most important part of your comment.
lagta hai aab fir se cash ka time aa gye hai
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