# Fintech News Bytes **URL:** \ **Category:** General\ **Tags:** news, featured\ **Created:** [19 May 2022 08:59 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281 "2022-05-19T08:59:54Z")\ **Posts on this page:** 20\ **Page:** 13
**Author:** ![saurabh.s](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/saurabh.s/32/13008_2.png) [@saurabh.s](https://community.jupiter.money/u/saurabh.s)\ **Post date:** [24 April 2023 12:18 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/266 "2023-04-24T12:18:37Z")
Now, it’s charges 2.95% ---
**Author:** ![Dinesh\_Gupta](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/dinesh_gupta/32/15556_2.png) [@Dinesh\_Gupta](https://community.jupiter.money/u/Dinesh_Gupta)\ **Post date:** [24 April 2023 14:22 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/267 "2023-04-24T14:22:50Z")
That will be used for shopping 🛍 . If Jupiter doesn’t want to provide free card and prefer to spends. It can at least provide prepaid virtual cards to those who do not want to pay a single penny as card charges. If one wants the debit card to be used for online transaction purpose only and wants to pay minimum charges then Visa Classic with 25+GST annual charges would be a good option. ---
**Author:** ![Pratyay\_Mustafi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/pratyay_mustafi/32/13131_2.png) [@Pratyay\_Mustafi](https://community.jupiter.money/u/Pratyay_Mustafi)\ **Post date:** [24 April 2023 15:32 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/268 "2023-04-24T15:32:00Z")
even rupay is better in this case if it’s free ---
**Author:** ![yagnesh01](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/yagnesh01/32/14597_2.png) [@yagnesh01](https://community.jupiter.money/u/yagnesh01)\ **Post date:** [24 April 2023 15:45 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/269 "2023-04-24T15:45:42Z")
Dinesh, while the idea is interesting, there are product offerings available in the market that serve the same purpose and offer better offers. One such platform that I am aware of is Hubble. ---
**Author:** ![yagnesh01](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/yagnesh01/32/14597_2.png) [@yagnesh01](https://community.jupiter.money/u/yagnesh01)\ **Post date:** [24 April 2023 19:32 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/271 "2023-04-24T19:32:26Z")
Dinesh, is not for the virtual card offering. It is to maintain the debit card on Federal Bank’s system. As confirmed by Tanvi in the thread for the debit card charges, Federal Bank considering a virtual card as full fledged debit card. ---
**Author:** ![sani](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sani/32/14931_2.png) [@sani](https://community.jupiter.money/u/sani)\ **Post date:** [27 April 2023 06:05 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/272 "2023-04-27T06:05:14Z")
> **[Neobank Jupiter secures NBFC licence; will raise debt to push lending business](https://economictimes.indiatimes.com/tech/startups/neobank-jupiter-secures-nbfc-licence-will-raise-debt-to-push-lending-business/articleshow/99769248.cms?from=mdr)** > > The development is significant for Jupiter, which has been scaling its lending operations through partner NBFCs. ---
**Author:** ![saurabh.s](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/saurabh.s/32/13008_2.png) [@saurabh.s](https://community.jupiter.money/u/saurabh.s)\ **Post date:** [1 May 2023 07:59 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/273 "2023-05-01T07:59:27Z")
In April 2023, the UPI transaction count in India reached a staggering 8.9 billion, registering a YoY growth of 59%. The transaction amount also witnessed a notable increase, amounting to Rs. 14.07 lakh crore in April 2023, a YoY growth of 43%. Source: NPCI ![20230501_132515](https://us1.discourse-cdn.com/flex020/uploads/jupiter/original/2X/1/1a2fbab39e5d1fcd24adae58a40d788b327795c6.jpeg) ---
**Author:** ![yagnesh01](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/yagnesh01/32/14597_2.png) [@yagnesh01](https://community.jupiter.money/u/yagnesh01)\ **Post date:** [1 May 2023 09:14 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/274 "2023-05-01T09:14:59Z")
As and when, Credit on UPI and Credit Card on UPI start picking up, these numbers will only become more and more staggering. ---
**Author:** ![sani](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sani/32/14931_2.png) [@sani](https://community.jupiter.money/u/sani)\ **Post date:** [1 May 2023 15:44 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/275 "2023-05-01T15:44:32Z")
Really UPI is game changer, a national giving free transactions too much easy fast and secure… 🚀 ---
**Author:** ![saurabh.s](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/saurabh.s/32/13008_2.png) [@saurabh.s](https://community.jupiter.money/u/saurabh.s)\ **Post date:** [1 May 2023 15:50 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/276 "2023-05-01T15:50:37Z")
However, it’s not completely free, the government have to pay the cost > [@Fintech News Bytes](https://community.jupiter.money/t/fintech-news-bytes/32281/245): > > UPI isn’t Free While the UPI is a convenient and widely used digital payment platform in India, it is important to note that it is not entirely free. In fact, the government incurred a subsidy cost of Rs. 1,044 crore in the FY2022 to enable zero charges for processing UPI transactions. This means that while consumers do not have to pay a direct fee for using UPI, there are costs involved in facilitating these transactions that are being borne by the government. ---
**Author:** ![sani](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sani/32/14931_2.png) [@sani](https://community.jupiter.money/u/sani)\ **Post date:** [1 May 2023 15:55 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/277 "2023-05-01T15:55:21Z")
I know that… It’s a service like Indian Railways… ---
**Author:** ![Pratyay\_Mustafi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/pratyay_mustafi/32/13131_2.png) [@Pratyay\_Mustafi](https://community.jupiter.money/u/Pratyay_Mustafi)\ **Post date:** [1 May 2023 15:59 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/278 "2023-05-01T15:59:28Z")
1k cr is nothing for gov compared to collected indirect taxes like gst . ---
**Author:** ![sani](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sani/32/14931_2.png) [@sani](https://community.jupiter.money/u/sani)\ **Post date:** [1 May 2023 16:09 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/279 "2023-05-01T16:09:31Z")
Niti ayog and planning department too much intelligent… They open zero balance account for all, give them free rupay card … Then introduce upi … Npci’ s imps is also good but now it’s costly… After demonetisation upi growing up… Now it’s normal for everyone… As compared visa and others global payments system it’s too much advance secured and easy… Even cost is too much low for maintenance. ---
**Author:** ![saurabh.s](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/saurabh.s/32/13008_2.png) [@saurabh.s](https://community.jupiter.money/u/saurabh.s)\ **Post date:** [1 May 2023 16:10 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/280 "2023-05-01T16:10:17Z")
I’m just point out the cost, as many people believe that UPI transactions are entirely free, they can’t see the hidden costs associated with the technology infrastructure and maintenance, which may be borne by the government or the other entities involved in the transaction process. Also, while 1000 crore may not be a large sum of money for the government, it is crucial to acknowledge that every rupee counts, particularly when it comes to public funds. ---
**Author:** ![sani](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sani/32/14931_2.png) [@sani](https://community.jupiter.money/u/sani)\ **Post date:** [1 May 2023 16:23 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/281 "2023-05-01T16:23:53Z")
UPI is now free but not in future… It’s a great step for growing up India in digitization… Jio introduce to people low cost internet and upi giving them faster and safest transactions … Some years ago payment to much complicated… Buying using Card need pos it’s too much costly… And time taking… Now upi … Before ecom transactions need card details… Now upi… Before money transfer need account number, name, IFSC, mmid … And need net banking… Login… Too much complicated and also charges high… Now upi 🚀 ---
**Author:** ![yagnesh01](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/yagnesh01/32/14597_2.png) [@yagnesh01](https://community.jupiter.money/u/yagnesh01)\ **Post date:** [1 May 2023 16:27 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/282 "2023-05-01T16:27:05Z")
Pratyay, 1K crore if not subsidised can be utilized for investing in other avenues eg, ifrastructure development. The processing fee waiver that we receive is the government’s investment in the payment processing network. ---
**Author:** ![yagnesh01](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/yagnesh01/32/14597_2.png) [@yagnesh01](https://community.jupiter.money/u/yagnesh01)\ **Post date:** [1 May 2023 16:30 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/283 "2023-05-01T16:30:27Z")
Sani, as per the RBI & finance ministry, UPI is considered to be public welfare initiative and will continue to remain free for users for the foreseeable future. ---
**Author:** ![sani](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/sani/32/14931_2.png) [@sani](https://community.jupiter.money/u/sani)\ **Post date:** [1 May 2023 16:38 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/284 "2023-05-01T16:38:57Z")
I didn’t think soo … Banks and financial institutions are not interested about that… Even if they give free many banks and private UPI app can charge you ---
**Author:** ![yagnesh01](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/yagnesh01/32/14597_2.png) [@yagnesh01](https://community.jupiter.money/u/yagnesh01)\ **Post date:** [1 May 2023 16:50 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/285 "2023-05-01T16:50:11Z")
Can charge and will charge are 2 different scenarios. As of now, the only UPI transactions that attract a fee are the ones made from PPI instruments and that too users are not required to pay for it. > **[Which UPI payments will attract interchange fee? Will you have to bear the cost?](https://economictimes.indiatimes.com/wealth/spend/upi-merchant-transactions-ppi-which-upi-payments-will-attract-interchange-fee-will-you-have-to-bear-the-cost/articleshow/99087712.cms?from=mdr)** > > UPI transaction charges: NPCI has advised that UPI transactions made via prepaid instruments, such as wallets and cards will attract an interchange fee of 1.1 per cent for merchant payments from April 1, 2023. The interchange fee will be levied only... ---
**Author:** ![Pratyay\_Mustafi](https://sea2.discourse-cdn.com/flex020/user_avatar/community.jupiter.money/pratyay_mustafi/32/13131_2.png) [@Pratyay\_Mustafi](https://community.jupiter.money/u/Pratyay_Mustafi)\ **Post date:** [1 May 2023 17:12 UTC](https://community.jupiter.money/t/fintech-news-bytes/32281/286 "2023-05-01T17:12:35Z")
isn’t upi based on imps [Previous page](https://community.jupiter.money/t/fintech-news-bytes/32281.md?page=12) [Next page](https://community.jupiter.money/t/fintech-news-bytes/32281.md?page=14)