New Delhi: The National Payments Corporation of India (NPCI) has recommended an interchange fee on Unified Payments Interface (UPI) transactions of over Rs 2,000 made via Prepaid Payment Instruments (PPIs). This charge is only applicable only for PPI merchants and no charge will be levied upon customers.
The National Payments Corporation of India (NPCI) has recommended an interchange fee on Unified Payments Interface (UPI) transactions of over Rs 2,000 made via Prepaid Payment Instruments (PPIs). This charge is only applicable only for PPI merchants and no charge will be levied upon customers.
UPI has emerged as the preferred mode of digital payment by offering free, fast, secure, and seamless experience. The most preferred method of UPI transactions is linking the bank account in any UPI enabled app for making payments which contributes over 99.9 per cent of total UPI transactions. These bank account-to-account transactions continue to remain free for customers and merchants.
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