UPI Charges पर सारी Confusion दूर! Paytm, CEO, Vijay Shekhar Sharma से समझिए पूरा गणित | Samachar

Yes, first of all, thank you very much. And I would like to say this, the words you used, 'common person', 'common citizen', I will speak from that perspective rather than from the industry's perspective. You must have seen, Aarendra ji, that all of us, for small payments, whether it's a food shop or a shopping place, we make payments of 200, 300, 400, and mostly when our payments are for small parking lots and food, they are of ₹50. So, on all these small payments, no charge will be applied. No MDR will be applied. And the biggest attention has been paid to this that the small merchants in the country... Now I would like to take the word 'small merchant' in a different way. The person who receives a small payment of ₹100, ₹50, ₹200, ₹250, ₹500, all these payments are outside the MDR. The best thing to say in this is that this amount is up to ₹2000. So, no matter how big a merchant you are, no matter how big your shop is, but if your ticket size, as it is called, if a customer is making a payment to you of less than 2000, then no charge will be applied on it. Now, this biggest border that has been imposed fulfills the greatest need of India's common public and all the citizens of our country, that neither the consumer nor their shopkeepers will ever have to pay any charge. This is a very big thing. Secondly, whenever we talk about charges, it is said that even if you charge the merchant a little, it ultimately reaches the customer. So, the best thing is that there is no charge on anyone up to ₹2000. So, there is no hindrance for it to reach the customer or the merchant. This MDR that has been imposed is practically applied to the big merchants, like if you talk about big e-commerce companies or big retail chains. Because there, your ticket size and expenses are more than ₹2000, and the charge applied on them will make the expenses for promoting the UPI system self-sustaining. So, this can be called a Robin Hood in a way, that by charging the big people, the UPI will always be kept free for the citizens of our country. This provision has been made. So, UPI is free for that shopkeeper, for that customer, and for all customers. First of all, it is free, and it is also free for that shopkeeper whose shop has purchases of less than ₹2000. So, whether you go to eat jalebi in the morning, or go to a restaurant in the evening, or go shopping. If your payments are below 2000, then you will not be charged any payment and no merchant will be charged. This charge will be applied to the big e-commerce companies where the ticket size is large. Like if you are buying an iPhone, they already pay money to the card companies. This money will be applied to them and that too is discounted. At this time, if you use a global company's debit card, which has the lowest fee, it costs 60 bips, meaning 60 paise on ₹100. This is also discounted on that. This is also 40 bips on that. Meaning, there is a discount of more than 1/3 on that too. So, the biggest thing is that look, UPI was running on a grant basis until now. With this provision that charges are applied on large payments. In a way, the government has done a Robin Hood-like thing, that the charges applied on those people will keep UPI free for all common citizens and all common shopkeepers. And this was a pending thing, about which it was being said that somewhere a charge will come or what will come. I am very happy that the Government of India has completely taken care of the small merchants and also completely taken care of the consumers that no charge is applied on them.

You have said a very good thing. Whether you receive one payment or thousands of payments. May God bless you that thousands of payments of less than ₹2000 come to you every day. May your shop grow double in the day and quadruple at night. No charge will be applied on any of them. There is no restriction on any combined amount. Meaning, if one customer of ₹2000 comes, one customer of ₹500 comes, or 10,000 customers of ₹500 come to your shop. You will not be charged anything. So, wherever you have seen UPI, you go on a bus, give ₹15. Give ₹10 to the conductor. You go to a tea shop. Give ₹10, ₹15. Give ₹20. Go to any other food and drink place. Eat a samosa. Eat a jalebi, or leave aside food and drink. The shopping you do, buy clothes. You must have seen, sir, that the big retailers of this country also now bring offers of 999 and 499, 599. There is no charge on any of them. So, first of all, let us clarify from our side that there is no charge for any common thing. So, then on whom is this charge? This charge is on those big companies. Like a jeweler on whom you make a payment of 20-40 thousand. Like a big shopkeeper from whom you do big shopping. Buy fashionable clothes where you buy a shirt for ₹5000. There is a charge on them, and I believe the charge on them is also so small that it is better than other payment systems. Remember, all other payment systems that are used in shops or online, all of them had a charge. Only this did not have a charge. So, this also becomes a long-term sustainable model. This also becomes a long-term viable model. And this is the best special thing that has come in it.

Sir, you have brought out a very good point. If you go to a shop where there is a payment of ₹75,000 or ₹1 lakh. Let's assume you bought something big for which people do some more shopping when they are married, or you bought something for yourself, then there is also a cap on it that no fee of more than ₹300 will be charged on any payment. This means whether you buy goods worth ₹1 lakh, buy goods worth ₹5 lakh, make a payment via UPI. There will be no charge of more than ₹300, which in a way is 40 paise per ₹100, which we call in financial language 40 bips, that also becomes even less. So, this is an even bigger discount. In other words, if you are paying 40 paise per ₹100 on amounts more than ₹2000, then as soon as it goes to ₹75,000, you can charge a maximum. You cannot charge on payments of more than ₹75,000. This will benefit jewelers, big shops, and all the repairing shops like auto mechanics, etc. There is a discount for all of them in this, and for a common person, there is never such a charge that would be heavy for them. One important thing, Alit ji, I would like to tell you in this area. Yes. Until now, UPI has been a grant-based system. It is exactly like giving a job to a driver but telling him to earn as much as he gets from tips. Now UPI has become self-reliant. Now this payment system has been made self-sustaining. As we say, a self-reliant India is an empowered India. In the same way, a self-sustaining UPI, where charges are applied on large payments, is a sustainable and growing UPI. Look, the promotion and spread of UPI across the world has happened because of its reach and its commercial system, two things, and how low the charge is. In fact, I want to tell you one more thing, Al Nazir, that if everyone... now when we used to go anywhere in the world, people used to ask me how you make money, so I used to say we make it by cross-selling, not in payments. So, this means you have in a way... meaning the government has made payments free, so the government must be giving you money. So, I, as a technology entrepreneur and on behalf of the person who is in fintech, can say that now we can bring that revenue and support into UPI by charging the big people, by charging large payments, which will be very useful for small shopkeepers and all the public. Now this is self-sustaining. Until now, we used to wait for how much grant the cabinet gave in the budget, and then budgeted for the availability of that grant, and now there is nothing like that. Now we can stand on our own feet, become self-reliant, and promote UPI even more. This is a very big beginning in the revolution of India's UPI. Yes, self-sustaining UPI.

Look, the best thing is that the cost is being borne by everyone for this payment in UPI, but the common person does not have to pay for the payment. We are doing a Robin Hood-like work in a way, that a little payment is taken as a fee from the big people who have large payments, so that income comes into the UPI system, and with that income, safety, security, scale, investment, all of that increases. Look, I will tell you one more thing. Many times people have told me that you have in a way imposed a tax on this, imposed a charge, imposed a fee. The best thing is that UPI was never charged for the common person and will never be charged for the common shopkeeper. This is for those big shopkeepers, like you see, you shop online. You buy a big phone for 30-40 thousand. How much margin is there in it. You must have seen on e-commerce companies. How much convenience is there. But because this is a self-sustaining system, now this compounding will increase even more. I believe that due to the commercial value coming into the UPI system, this will increase the promotion and spread of UPI even more. The best thing is that the companies and businesses that run on this basis can now consider this as a long-term thing, that it will always be like this. Until now, it always felt that the government has given a discount from its side. How long will the government fund this? Instead, the way, I would say, in such a beautiful way, in such an innovative way, in such a correct and finished way, where a discount and free has been given for the common person, and a limit has also been imposed for the big person, and for the kind of common transactions we have, no charge has been imposed. All these things are decisions of a very tough policy. And the best thing, which I want to say again and again, is that no common person will have to make any extra payment because of this, because when you go to your shop and do ₹100, ₹200, ₹500, ₹50, and ₹1000, ₹2000, there will be no charge. All this is a myth. We should not think that this is a charge. One thing is certain, yes, big shopkeepers, big customers, big online e-commerce shoppers, for them, the shopkeeper, from their side, the charge that is being applied here is a discounted charge compared to the card-based payments they currently make.