UPI Ending Soon in India - Survey Reports
Regarding the future of UPI Payments in india, some extremely intriguing findings from a recent LocalCircles poll of UPI users have been revealed. In the study, customers were asked if they would still use the service in the event if transaction fees were implemented. This prompted an overwhelming 75% of users to vote against the plan, making it quite evident that they would cease using PayTM, PhonePe, and google pay applications right away should the proposal ever be made public. The shocking thing is that 22% of the users supported charging them transaction fees of some type.
The study was conducted in more than 308 districts. More than 42,000 answers were gathered. Although this sample data-size appears large at first, it really feels quite little when compared to the overall number of UPI users. The fact that there have been more than 100 billion UPI transactions completed in india to far provides insight into the remarkably large number of people that utilize UPI. The Ministry of Finance and the reserve bank of india (RBI) will get a full report on the survey's findings.
The government will be better able to gauge public sentiment and have a clear insight into people's hearts as a result, which should help them heed public opinion and refrain from charging transaction fees for UPI going forward.
The government will be better able to gauge public sentiment and have a clear insight into people's hearts as a result, which should help them heed public opinion and refrain from charging transaction fees for UPI going forward.