National Payments Corporation of India (NPCI) has recently made an announcement that has been misunderstood by the users. Many people are thinking that they will be charged on making UPI payments. On Wednesday, NPCI clarified that bank-to-bank account transfers via UPI will continue to remain free but any merchant payment above Rs 2,000. that goes through two different wallets will be charged at 1.1%.
“The interchange charges introduced are only applicable for the PPI merchant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank account-based UPI payments (i.e. Normal UPI payments),” it said.
According to a recent announcement, UPI now offers customers the flexibility to use any bank account, RuPay credit card, or prepaid wallet through UPI-enabled apps. As a result, UPI continues to be the most preferred method of digital payment due to its fast, secure, and seamless experience, without any additional charges.
In the past, users would typically link their bank account to a UPI-enabled app for making payments, which accounted for over 99.9% of total UPI transactions. With this latest addition, customers now have the freedom to choose from a wider range of payment options, making UPI even more convenient for everyday transactions.
Misinterpretation of this announcement has triggered a meme fest on social media
This announcement creates a misinterpretation that has triggered a meme fest on social media. These memes reflect their discontent with the perceived implications of the announcement, even though NPCI clarified that the interchange charges would only apply to Prepaid Payment Instruments (PPI) merchant transactions and not to UPI payments made by individuals.
While it’s understandable that users may feel frustrated or confused about changes to a service they use frequently, it’s important to stay informed and fact-check information before sharing it. Humor can be a way to cope with negative situations, but it’s also essential to maintain a clear understanding of the facts and implications of any new developments.
Let’s have a look at the hilarious memes and posts, reflecting the dis-satisfactions of the users with the perceived implications of the announcement.
A user named Saurabh Sharma has shared a meme where Rajnikanth can be seen saying “Kyu hila dala na” .
Another person reflects his dissatisfaction through a picture, where a tea seller can be seen with a board kept near that says “Crypto accepted here”.
Many such memes and posts are surfing over different social media platforms where people expressing there views on this announcement made by NPCI.