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According to a new market research report titled, ‘‘E-commerce Market by Business Model, Browsing Medium, Payment Mode (Card Payments, Digital Wallets, Bank
NPCI to introduce new interchange fee for merchant UPI transactions
An interchange fee of 1.1% is only applicable for merchant transactions made through PPIs. No charges will be levied on normal UPI payments.
The National Payments Corporation of India has advised that Prepaid Payment Instrument (PPI) fees should be applied to merchant transactions on UPI from next month
The fee will not be applicable for person-to-person transactions or person-to-merchant transactions between a bank and the prepaid wallet.