In India, UPI payments approaching 100 million a day, are free for sender and receiver. The RBI (Indian Fed) has a subsidiary which operates the switch. The pa

In India, UPI payments approaching 100 million a day, are free for sender and receiver. The RBI (Indian Fed) has a subsidiary which operates the switch. The payments are bank-to-bank account and non-recourse so they cannot be pulled back once initiated. There is no credit and fraud component. India is not an exception and most other countries have similar structure. I think WeChat payments have a similar cost structure though I might be wrong. Most payment systems are very low cost (approaching cost of bandwidth). For comparison, FedWire can transmit payments upto 100 million and above for ~$1.20. Below $100 Million it is $0.90 ;) UPI Statistics: https://www.npci.org.in/what-we-do/upi/product-statistics https://www.npci.org.in/what-we-do/upi/product-statistics FedWire Cost Table: https://www.frbservices.org/resources/fees/wires-2021.html https://www.frbservices.org/resources/fees/wires-2021.html