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Now, you can have the convenience of keeping all your daily life transactions at one place so your savings account statement is not getting flooded and also your bank balance is no longer at risk of being prone to fraud, scam etc
National Payments Corporation of India (NPCI) suggested imposing an interchange fee on transactions using the Unified Payments Interface (UPI) starting on April 1.
The interchange pricing will be introduced on April 1, 2023, and then again reviewed by September 30, 2023. The introduction of interchange fees is aimed at increasing revenue for banks and payment service providers.
Let’s take a closer look at UPI vs NEFT and see how they differ in terms of usage, features, and benefits
It is not true that a fee has been levied on regular bank account-to-account transfers via the Unified Payments Interface (UPI)