When transactions originate from the UPI platform, banks don’t get fees or commissions on their products like debit and credit cards. It also depends on the demand from other customer groups with whom they have to interact. While UPI remains a uniformly low-cost solution—effectively free as of now—it does not automatically attract new customer groups on the back of this pricing. While any member of the UPI platform can launch an app, the currently available apps are very different from each other. Second, a few large customer groups need to be identified and specifically onboarded to the UPI platform.

Source: Mint December 03, 2016 17:54 UTC