NPCI Clarification Amid Rumors of Charges in UPI Payments, No Charges to Customers, Understand Full Details

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Once again there is an important news regarding UPI payment. NPCI has clarified about the change in UPI rules from April 1. 2000 through UPI Rs. Such news was circulating since morning that there will be a transaction charge on payments above . Regarding this, NPCI has said that the change in the payment system through UPI will not affect the customers. He also said that UPI is a free, fast and secure payment system. Through UPI, more than 8 billion transactions are done every month by consumers and shoppers.

Customers need not worry

  • There has been no change in the old payment system
  • No charges will be incurred on transactions made from a bank account to any other bank account
  • The merchant has to pay charges on UPI payments made through prepaid wallets
  • Transactions to P2P and P2PM bank accounts will not incur any charges.

Who will pay the charges?

  • UPI payments made through GPay, Paytm and other apps will be charged PPI fee on transactions above ₹2,000
  • This charge has to be paid only by users who pay for merchant transactions

How will the charge be?

This fee will only apply to digital wallet transactions made through merchant QR codes, which will be payable by the merchant acquirer to the wallet issuer. Therefore, neither the merchant nor the customer is directly affected by the interchange fee.

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