Centre to introduce digital payment fee policy: Niti Aayog official 

Digital payments
Digital payments

The central government may soon introduce a policy on the fee being charged for different modes of digital payments, a Niti Aayog official said.

Reportedly, government think tank Niti Aayog has submitted a research report on digital payment trends and challenges for the government.

As per the research report, one of the major issues impacting the digital transactions is the fee levied digital payments. Digital payments through RTGS, NEFT and debit cards attract different charges for the users.

“The government is currently evaluating these charges and will soon come out with suitable policy suggestions,” said Ratan P Watal, Social Sector, Niti Aayog Principal Adviser.

“In the research report, we (Niti Aayog) have also recommended that the digital payments data should be disseminated at a disaggregated level,” he said.

“We have proposed a classification for disaggregation — according to the service provider, payment instruments, payment destination, user, value, area, etc,” he said.

“We are working with the RBI towards data dissemination in such a metric format,” he added.

The research report on digital payments has been prepared by a committee headed by Watal.

“It is necessary that banks issue debit cards to those customers who still do not own any card,” said A P Hota, Managing Director & CEO, National Payments Corporation of India.

“Aadhaar seeding of bank accounts should be made mandatory. “Eleven states have migrated MNREGA payments to Aadhaar-based payment system,” Hota said.

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