UPI Transactions Over Rs 2,000 To Attract 1.1% Fee, But Customer Won't Pay

2023 • 4min • News • Business


Published On: March 29, 2023 - National Payment Corporation of India (NPCI) has clarified through its official Twitter handle that there is no charge to customers. As per the latest rule, Unified Payments Interface (UPI) transactions of over Rs 2,000 made through Prepaid Payment Instruments (PPIs) will attract an interchange charge of 1.1%. This means that UPI transactions made via PPIs such as wallets, credit cards will have an interchange fee of 1.1%. There are, however, no charges for the bank account to bank account-based UPI payments i.e. normal UPI payments.