All UPI payments are no longer free; Payment will be made from April 1

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All UPI payments are no longer free;  Payment will be made from April 1


The National Payments Corporation of India has given instructions in this regard


 It has been decided to impose a transaction fee of 1.1 percent



UPI payments will no longer be free. Interchange fee is now imposed on payments made by borrowers through prepaid instruments such as cards, wallets, etc. The National Payments Corporation of India has given instructions in this regard. (UPI Payments Via Prepaid Instruments To Carry Interchange Fee)

According to the NPCI circular, NPCI has decided to impose a 1.1 percent transaction fee on merchant users who conduct transactions above Rs.2000. With this additional amount, PPI users will now have to pay 15 basis points as wallet loading service charge to the bank.

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