With a view to make digital transactions more affordable, the Reserve Bank of India will soon come out with a discussion paper on the reasonableness of charges on transactions through digital mode.
Observing that concerted efforts by all stakeholders have led to a significant increase in digital payments in recent years, RBI Governor Shaktikanta Das said there have, however, been some concerns on the reasonableness of various charges incurred by customers for digital payments through credit cards, debit cards, prepaid payment instruments (cards and wallets), Unified Payments Interface (UPI) and the like.
Entities involved in providing digital payment services incur costs, which are generally recovered from the merchant or customer or is borne by one or more of the participants, he said while unveiling the bi-monthly monetary policy.
While there are advantages and disadvantages of customers bearing these charges, they should be reasonable , he added.