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PIB has tweeted, “there is no charge on normal UPI transactions”. It further clarified that circular is about transactions using Prepaid Payment Instruments (PPI) like digital wallets. 99.9% transactions are not PPI.
Online wallets, smart vouchers, smart cards, and many more are prepaid payment instruments (PPIs) that users can use to do shopping, mobile recharge, etc. The customer can send money from these wallets to the merchant's bank account directly via UPI QR code.
No charges on normal UPI paymentApplicable interchange fee for PPI merchant transactions Description of National Payments Corporation of India New Delhi : 29. March(sahrnews.com/agencies) National Payments Corporation of India (NPCI#) clarified in its statement issued today that bank account to bank account basis UPI# Payments or General UPI There will be no charge for payments,…
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