New UPI rules claiming charges for payments above Rs 2000 trigger meme fest

Unified Payments Interface (UPI) has eased the life of every Indian in terms of transactions. However, 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. NPCI has made it clear that the interchange charges introduced are only applicable for the Prepaid Payment Instruments (PPI) merchant transactions. The misinterpretation of the new announcement has triggered a meme fest on social media and users are expressing their displeasure via humour. Let’s have a look at some of the hilarious memes people have shared on social media to show their displeasure with the latest development regarding UPI.A user posted a meme where Rajinikanth can be seen saying, “Kyu hila dala na?” (What happened? Did I give you a shock?). According to the user, this is what UPI is saying to everyone right now.https://twitter.com/Saurabhsharrma/status/1640994620451753984A person explained through a picture what will happen after UPI payments become chargeable. In the picture, a teaseller can be seen with a board kept near him that reads, “Crypto accepted here.”https://twitter.com/NaazAkhtar8/status/1640940484238651397An account shared how he will start embracing cash and leave UPI payment apps if the UPI transactions become chargeable.https://twitter.com/i_arshadiqbal/status/1641004451631861760Another user echoed a similar thought and expressed via a meme that Indians will shift towards cash payments after the UPI charges come into effect.https://twitter.com/ChekrishnaCk/status/1640997734793752579NPCI took to Twitter to clarify the confusion among users. The body said, “Traditionally, the most preferred method of UPI transactions is linking the Bank account in any UPI-enabled app for making payments which contributes over 99.9 per cent of total UPI transactions.” It went on to say that these bank account-to-account transactions will remain free for customers and merchants.Have a look at NPCI’s announcement here:https://twitter.com/NPCI_NPCI/status/1640964585267281926According to NPCI, PPI Wallets have been allowed to be a part of interoperable UPI ecosystem. So, the organisation has now permitted the PPI wallets to become a part of this ecosystem and introduced interchange charges only for the PPI merchant transactions.