Mumbai School Bus Owners To Stop Accepting UPI Payments After October 15 Over Proposed Transaction Charges
Mumbai: In lieu of the charges levied on Unified Payments Interface (UPI), the School Bus Owners Association (SBOA) has refused to accept school bus fees through online payments. SBOA announced that the last day for accepting digital payments will be October 15, citing the Union Finance Ministry's announcement of levying charges of Rs 200 on transactions above Rs 2,000. Paytm, MobiKwik, Pine Labs…
Mumbai's School Bus Owners Association (SBOA) has decided to cease accepting Unified Payments Interface (UPI) payments for school bus fees after October 15, citing the Union Finance Ministry's announcement of transaction charges. The SBOA's president, Anil Gard, explained that the drivers and companies will have to bear the cost of these UPI service charges.
The association believes that accepting cheques and NetBanking transfers would be a more cost-effective option, as the six-month upfront fee often exceeds the Rs 2,000 limit. In a circular to parents, the SBOA stated that bus fees will now be accepted only through cheques or credit cards.
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