UPI vs debit vs credit cards: Which will be cheapest?
UPI vs debit vs credit cards: Which will be cheapest?
When comparing payment methods, UPI stands out as the most economical option. Unlike debit and credit cards, which levy transaction fees, UPI charges no fee for transfers. This makes UPI the cheapest way to move money between bank accounts in India.
NAI summary30-second read
What happened
UPI transactions cost zero, making them cheaper than debit and credit card payments, which charge small fees for each transaction.
Why it matters
Choosing the right payment method can save you a few rupees on every transaction, and over time those savings add up to a noticeable difference in your monthly budget. It also affects how quickly you can get refunds or dispute charges, which matters for everyday purchases.
Impact
Consumers will likely shift to the most cost‑effective option, prompting banks and payment platforms to adjust fee structures and offer incentives to retain users.
Read the full story at Economic Times.
