Analysis Of Upi Transactions 1 Pdf Several posts on social media, stating that all transactions done through the unified payments interface (upi) platform would attract a 1.1% fee, are misleading. The 1.1 per cent interchange fee of the transaction value will be levied only on merchant payments of above rs 2,000, according to a circular by npci dated march 24, 2023.
Upi Transactions Over 2 000 To Attract 1 1 Fee To Merchants Only Pib fact check denies media reports claiming that upi transactions above rs 2000 will be charged at 1.1%. it further clarified that circular is about transactions using prepaid payment. Upi payments made through prepaid payment instruments (ppis) such as digital wallets will attract a 1.1 percent fee if the value of the transaction is above rs 2,000 or more. There is a rumour spreading around that customers will have to pay 1.1% for normal transactions over rs 2,000 via upi (unified payments interface). several media outlets have published stories on the same claiming that the new rule will apply for normal upi transactions from april 1. 1 upi payments made through ppis read digital wallets like paytm wallet will now attract 1.1 per cent fee if the value of the transaction is rs 2000 or more. 2 the wallet transactions that are worth less than rs 2000 will not attract this charge. 3 the fee will be levied on the merchant side.
Upi Transactions Above Rs 2 000 Have To Pay 1 1 Percent Fee There is a rumour spreading around that customers will have to pay 1.1% for normal transactions over rs 2,000 via upi (unified payments interface). several media outlets have published stories on the same claiming that the new rule will apply for normal upi transactions from april 1. 1 upi payments made through ppis read digital wallets like paytm wallet will now attract 1.1 per cent fee if the value of the transaction is rs 2000 or more. 2 the wallet transactions that are worth less than rs 2000 will not attract this charge. 3 the fee will be levied on the merchant side. According to the report, “starting april 1, merchant transactions exceeding ₹2,000 in value done using prepaid payment instruments (ppi wallets) on upi will attract an interchange charge of 1.1%.”. In a recent circular, the npci said that using prepaid payment instruments (ppis) for transactions through upi will attract an interchange fee. the charges will be levied if the transaction is more than rs 2,000.
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