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The DSB, as the designated UPI Service Provider, is preparing for the launch of the UPI service to align with regulatory adoption of the UPI, anticipated from late 2022 onwards. Following two UPI fee model consultations, a further DSB industry consultation will be undertaken on the user terms and conditions for DSB provision of the UPI service. Industry feedback received to the DSB Legal Terms and Conditions consultation will be considered in the drafting and publication of the final UPI Access and Usage Agreement.

The DSB UPI Legal Terms and Conditions Consultation timeline is outlined below:

Consultation Timeline

MilestoneDate
Publication of DSB UPI Legal Terms and Conditions Consultation PaperTue 2 Nov 2021
Explanatory Webinar 1 (timing preferable for Australia & Asia) *** Register ***Tue 9 Nov 2021
Explanatory Webinar 2 (timing preferable for EMEA & Americas) *** Register ***Wed 10 Nov 2021
Industry feedback deadlineWed 19 Jan 2022
Publication of DSB UPI Legal Terms and Conditions Consultation Final Report and UPI Access and Usage AgreementTue 12 Apr 2022