UPI merchant transactions above Rs 2,000 via PPIs to attract 1.1% interchange fee: NPCI issues new rules
1 year, 8 months ago

UPI merchant transactions above Rs 2,000 via PPIs to attract 1.1% interchange fee: NPCI issues new rules

India TV News  

UPI transaction charges: The National Payments Corporation of India has suggested the implementation of an interchange fee for Prepaid Payment Instruments on Unified Payments Interface transactions exceeding Rs 2,000. The proposal recommends an interchange fee of up to 1.1 percent with the objective of boosting revenue for banks and payment service providers who have faced significant costs in facilitating UPI transactions. The implementation of NPCI's new interchange fee on UPI transactions will not negatively impact users, as the fee will solely apply to merchants who receive payments exceeding Rs 2,000 using prepaid payment instruments like mobile wallets. The NPCI is optimistic that the introduction of an interchange fee for PPI providers on UPI transactions of higher values will encourage them to incentivize users to transact on UPI, raising the average transaction value and decreasing the overall expense of payment systems in India.

India Payments Bank Fee Transactions Upi Payment Ppi Upi Transactions Npci Interchange Prepaid Payment Instruments  npci  transactions  issues  merchant  rules  fee  ppis  payments  interchange  bank  users  upi  payment  rs

History of this topic

From new limits to new features: All changes made in UPI in 2024
6 days ago

From new limits to new features: All changes made in UPI in 2024

India TV News  

The number of people making online payments through UPI is growing rapidly, doubling during the day and quadrupling at night. According to NPCI data released in November, there were approximately 15.48 million UPI transactions, amounting to an impressive Rs 21.55 lakh crore. Previously capped at Rs 5,000, the new daily limit is now Rs 10,000, allowing these users to conduct …

Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details
3 months, 1 week ago

Now, you will be able to transfer ₹5 lakh in a single UPI transaction under THIS category: Check details

Live Mint  

NPCI revised the limit to ₹ 5 lakh for payments of tax, hospitals & educational services and payment for IPO and G-Secs If you rely on the Unified Payments Interface for most of your payments, then there is good news for you. {{^adFree}} {{/adFree}} So, now consumers will be able to make UPI payments of ₹5 lakh per transaction for …

Paytm gets third-party app license from NPCI to perform UPI transactions
9 months, 1 week ago

Paytm gets third-party app license from NPCI to perform UPI transactions

India TV News  

Paytm, the leading digital payments platform in India, has been granted a third-party application provider license by the country's payments authority. License to ensure seamless payments The newly acquired license enabled Paytm to serve as a third-party application provider, allowing customers to conduct transactions through India's unified payment interface. Partnerships with leading banks Axis Bank, HDFC Bank, State Bank of …

5 new ways to use UPI payments as 2024 begins with these rule changes
11 months, 3 weeks ago

5 new ways to use UPI payments as 2024 begins with these rule changes

Hindustan Times  

As we enter the new year, it's essential to take note of the UPI rules that have been changed. National Payments Corporation of India have instructed payment apps to deactivate inactive UPI IDs after one year. Users of platforms like Google Pay and PhonePe must verify and ensure their UPI IDs remain active, also reviewing associated phone numbers for inactivity. …

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access
1 year ago

India’s Growth Story is Linked to Progress Made on Digitisation and Its Access

The Quint  

The committee on Deepening Digital Payments constituted by the RBI in 2019 under the chairmanship of Nandan Nilekani had recommended that market forces should drive transaction prices for the inclusion of small startups and incentivising innovation. It underlined that while banks have a role in contributing to the payment system, the government and the RBI should also share the cost …

RBI raises UPI transaction limits, e-mandate bar; check all announcements
1 year ago

RBI raises UPI transaction limits, e-mandate bar; check all announcements

Hindustan Times  

Reserve Bank of India Governor Shaktikanata Das on Friday announced several decisions on the Unified Payments Interface, including raising the Unified Payments Interface payment limit to hospitals and educational institutions to ₹5 lakh from ₹1 lakh. The UPI, India's mobile-based fast payment system, enables users to make instantaneous, round-the-clock payments via Virtual Payment Address UPI limits increased: While unveiling the …

UPI crosses 10 bn transactions second time in September
1 year, 2 months ago

UPI crosses 10 bn transactions second time in September

Deccan Chronicle  

Chennai: With Unified Payments Interface crossing 10 billion transactions for the second straight month, this seems to have become the new normal for the payment interface. UPI recorded 10.56 billion transactions worth Rs 15.8 lakh crore in September, according to the National Payments Corporation of India. While the transaction volume marginally increased from Rs 15.76 lakh crore in August to …

All your questions about transactions made with PPIs via UPI, explained
1 year, 8 months ago

All your questions about transactions made with PPIs via UPI, explained

The Hindu  

April 05, 2023 10:59 pm | Updated April 06, 2023 02:00 pm IST The story so far: Earlier last week, the National Payments Corporation of India, which governs UPI, in a circular issued directly to banks, intimated that they can now levy charges on merchant transactions made through Prepaid Instrument wallets using UPI. Subsequently, PPI issuers tied up with NPCI …

NPCI says no charge on 'normal' UPI payments; but is free service sustainable?
1 year, 8 months ago

NPCI says no charge on 'normal' UPI payments; but is free service sustainable?

Hindustan Times  

The National Payments Corporation of India, which owns and runs the Unified Payments Interface, said on Wednesday that it has implemented fees on UPI transactions on only Prepaid Payment Instrument merchant transactions, and not on regular bank-to-bank UPI transactions. “To pay digitally at merchant locations actually increases the sales value of the merchant.” UPI as 'free service' sustainable Gandhi says …

No charge on normal UPI payments: NPCI
1 year, 8 months ago

No charge on normal UPI payments: NPCI

Deccan Chronicle  

New Delhi: National Payments Corporation of India on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 per cent charge on unified payment interface transactions above Rs 2,000 while using PPI. "The interchange charges …

Gpay, Paytm, other users need not worry about new surcharge; Know reason
1 year, 8 months ago

Gpay, Paytm, other users need not worry about new surcharge; Know reason

Hindustan Times  

The regulator of Unified Payments Interface, the National Payments Corporation of India has recently introduced a surcharge in digital payments made through prepaid payment instrument such as mobile wallets. According to NPCI, payments above ₹ 2,000 made using UPI network will bear a surcharge or interchange fee of up to 1.1%. According to NPCI, payments above ₹2,000 made using UPI …

Paytm answers if customers need to pay fee on UPI payments
1 year, 8 months ago

Paytm answers if customers need to pay fee on UPI payments

Hindustan Times  

Digital payments firm, Paytm, on Wednesday clarified doubts over National Payments Corporation of India’s latest circular notifying that an interchange fee of up to 1.1% will be applicable on merchant UPI transactions from April 1. In a tweet, the financial tech firm urged to not spread misinformation as it said that “no customer will pay any charges on making payments …

'Main Payment Nahi Karega': UPI Charges For Over ₹2000 Transaction Trigger Meme Fest
1 year, 8 months ago

'Main Payment Nahi Karega': UPI Charges For Over ₹2000 Transaction Trigger Meme Fest

News 18  

“Bhaiya, QR code hai kya?” Honestly, we all can relate to this line. But some ppl be like: pic.twitter.com/hloHJmtzfb — Kadak March 29, 2023 A user shared how people would clean their devices after the UPI changes come into effect. #UPIcharges pic.twitter.com/UD3Na6BKPD— 👑Che_ಕೃಷ್ಣ🇮🇳💛❤️ March 29, 2023 In the middle of this, a user has shared the perfect UPI users vs …

What's Changing With UPI Merchant Transactions from April 1? EXPLAINED
1 year, 8 months ago

What's Changing With UPI Merchant Transactions from April 1? EXPLAINED

News 18  

National Payments Corporation of India on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 per cent charge on unified payment interface transactions above Rs 2,000 while using PPI. “The interchange charges introduced are …

UPI Is Free And Safe! Customers Pay Nothing, Only PPI Merchant Transactions Pay Interchange Fee: NPCI
1 year, 8 months ago

UPI Is Free And Safe! Customers Pay Nothing, Only PPI Merchant Transactions Pay Interchange Fee: NPCI

News 18  

The National Payments Corporation of India on Wednesday said that UPI has emerged as the preferred mode of digital payment by offering free, fast, secure and seamless experience. Traditionally, the most preferred method of UPI transactions is linking the bank account in any UPI enabled app for making payments which contributes over 99.9% of total UPI transactions, it added. The …

PPI Wallet transactions of over ₹2,000 on UPI to attract 1.1% charge from April 1, 2023
1 year, 8 months ago

PPI Wallet transactions of over ₹2,000 on UPI to attract 1.1% charge from April 1, 2023

The Hindu  

Starting April 1, merchant transactions exceeding ₹2,000 in value done using Prepaid Payment Instruments on UPI will attract an interchange charge of 1.1%. However, “the new interchange charges are only applicable for the PPI merchant transactions and there is no charge to customers,” the National Payments Corporation of India, which governs UPI,, said in a statement on Wednesday. Rajsri Rengan, …

UPI Merchant Transactions To Carry Interchange Fee From April 1; Check Threshold And Other Details
1 year, 8 months ago

UPI Merchant Transactions To Carry Interchange Fee From April 1; Check Threshold And Other Details

News 18  

UPI merchant transactions of more than Rs 2,000 made via prepaid payment instruments will carry an interchange fee starting April 1, 2023. “The interchange charges introduced are only applicable for the PPI merchant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank account-based UPI payments,” …

Will online payments become costlier? NPCI recommends this…
1 year, 8 months ago

Will online payments become costlier? NPCI recommends this…

Hindustan Times  

Online payment is set to become costlier after the National Payments Corporation of India, in a notice, suggested charging interchange fees on merchant transactions made through Unified Payments Interface using prepaid instruments such as wallet or cards. The new rule will come into effect from April 1 and is applicable on transactions made to online merchants, larges merchants and small …

No, UPI payment will not be charged extra because NPCI 1.1 per cent fee has a fine detail you need to know
1 year, 8 months ago

No, UPI payment will not be charged extra because NPCI 1.1 per cent fee has a fine detail you need to know

India Today  

Will users be charged for UPI transactions above Rs 2,000 starting April 1, 2023? The NPCI has recommended an interchange fee on UPI transactions of over Rs 2,000 made through Prepaid Payment Instruments. In simple words, UPI payments made only through PPIs such as digital wallets will attract 1.1 per cent fee if the value of the transaction is Rs …

RBI allows UPI-based transactions for inbound travellers to India
1 year, 10 months ago

RBI allows UPI-based transactions for inbound travellers to India

The Hindu  

A facility to enable all in-bound travellers visiting India to make local payments using Unified Payments Interface while they are in India has been made available from Tuesday, the Reserve Bank of India said. “Eligible travellers would be issued Prepaid Payment Instruments wallets linked to UPI for making payments at merchant outlets. To begin with, ICICI Bank, IDFC First Bank …

No charges on using RuPay credit card for UPI transactions less than ₹2,000
2 years, 2 months ago

No charges on using RuPay credit card for UPI transactions less than ₹2,000

Hindustan Times  

The National Payments Corporation of India in a circular has said unified payments interface transactions up to ₹2,000 for RuPay credit card user won't be charged. Earlier, Reserve Bank of India's deputy governor T Rabi Sankar had said that the basic objective of linking the credit cars to UPI is to provide a customer with wider choice of payments. Earlier, …

Should UPI Charge a Fee? Global Payment Lobby Wants It, RBI Must Ensure Otherwise
2 years, 2 months ago

Should UPI Charge a Fee? Global Payment Lobby Wants It, RBI Must Ensure Otherwise

News 18  

UPI is moving in an interesting direction, one that will take it places not previously ventured into by digital public goods, and make India’s payment system adaptable and useful across the world. Which is why the rapid deployment of UPI across the world should lead to a redefinition of its purpose from just being digital public good to becoming a …

RuPay introduces UPI payments through its credit cards. Details here
2 years, 3 months ago

RuPay introduces UPI payments through its credit cards. Details here

Hindustan Times  

The National Payments Corporation of India has announced a feature enabling linkage of RuPay credit card to the unified payments interface. By linking RuPay credit card on UPI, now the customers can benefit from increased opportunity to use their credit cards while the merchants will benefit from the increase in consumption by being a part of the credit ecosystem with …

UPI: To charge or not to charge
2 years, 4 months ago

UPI: To charge or not to charge

Hindustan Times  

From less than a crore in monthly transactions in July 2016, the value of United Payments Interface transactions has grown to ₹10.6 lakh crore in July 2022. The ministry’s view may be driven by prudence, but it also needs to look at the challenge of sustaining the digital payments revolution, and perhaps India the global leader in this realm. The …

RBI allows credit cards to be linked to UPI; Rupay credit cards first in line
2 years, 6 months ago

RBI allows credit cards to be linked to UPI; Rupay credit cards first in line

The Hindu  

The Reserve Bank on Wednesday allowed credit cards to be linked with the unified payments interface, which will enable more people to make payments using the popular platform. "…it is proposed to allow linking of credit cards to UPI," RBI Governor Shaktikanta Das said while announcing the regulatory moves, along with the bi-monthly policy review. He said that Rupay credit …

UPI-Credit Card Linking to be a Reality Soon: RBI to Start with RuPay Credit Card
2 years, 6 months ago

UPI-Credit Card Linking to be a Reality Soon: RBI to Start with RuPay Credit Card

News 18  

RBI MPC Decisions: The Reserve Bank of India on Wednesday, June 8, said that it was proposing to allow linking of credit cards on UPI platforms. The new system will be introduced first by linking RuPay credit cards to UPI, or Unified Payment Interface, and then onboard other cards on the platform, RBI governor Shaktikanta Das said on the day. …

RBI allows credit cards to be linked with UPI platform
2 years, 6 months ago

RBI allows credit cards to be linked with UPI platform

India TV News  

Highlights RBI today allowed credit cards to be linked with the unified payments interface It will enable more people to make payments using the popular platform At present, UPI facilitates transactions by linking savings or current accounts through debit cards RBI news updates : The Reserve Bank of India on Wednesday allowed credit cards to be linked with the unified …

Paytm Money allows HNI investors to bid higher amount of up to ₹5 lakh for IPOs
2 years, 7 months ago

Paytm Money allows HNI investors to bid higher amount of up to ₹5 lakh for IPOs

Live Mint  

NEW DELHI: One97 Communications Ltd. has said that its wholly-owned subsidiary--Paytm Money Ltd.--will help high net-worth individuals to place higher bids of up to ₹5 lakh for initial public offerings through UPI. As per the company, it is the first among discount brokers in the country to launch this service of allowing HNIs to bid higher amounts via UPI. This …

No additional charges on UPI transaction, government rejects claims
4 years ago

No additional charges on UPI transaction, government rejects claims

Op India  

The Union government has rejected news reports that had earlier claimed that the centre had decided to impose additional charges for Unified Payments Interface transactions. Govt rejects claim of imposing additional charges for #UPI transactions.https://t.co/4KZUeLRDXl — All India Radio News December 9, 2020 Recently, in a report, Amar Ujala had claimed that UPI transaction will get expensive from January 1 …

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