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 …
Making its displeasure on prepaid payments instruments issuers not adopting interoperability, the Reserve Bank on Wednesday said it will make it mandatory for such companies to make provisions for letting their customers transact with others after doing a full-KYC. Governor Shaktikanta Das on Wednesday said prepaid payments instruments were given the option to become interoperable, wherein customers of one company …
Mumbai: The Reserve Bank has introduced a new type of prepaid payment instrument which could be used only for purchase of goods and services up to a limit of Rs 10,000 per month. "To give impetus to small value digital payments and for enhanced user experience, it has been decided to introduce a new type of semi-closed PPI.," RBI said …
The Reserve Bank has introduced a new type of prepaid payment instrument which could be used only for the purchase of goods and services up to a limit of Rs 10,000 per month. "To give impetus to small value digital payments and for enhanced user experience, it has been decided to introduce a new type of semi-closed PPI.," RBI said …
The Reserve Bank on Thursday proposed to introduce a prepaid payment instrument that could be used only for transactions of goods and services worth up to Rs 10,000. PPIs have been playing an important role in promoting digital payments and bringing in the new PPI will further facilitate its usage, as per an RBI statement issued post announcement of the …
