Charges On Upi Transactions
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RBI Governor Says No Proposal To Levy Charges On UPI Transactions
Reserve Bank Governor Sanjay Malhotra on Wednesday said there is no proposal to levy any charge on UPI transactions.
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No Plan To Levy Merchant Discount Rate On UPI Transactions: Finance Ministry
The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading".
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Exclusive: Government Weighs Charges On UPI Payments Over Rs 3,000
This comes as banks and payment service providers have raised concerns about the rising cost of handling high-value digital transactions.
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Google Pay Reportedly Levies Convenience Fees on Bill Payments via Credit and Debit Cards
Google Pay is now levying convenience fees on bill payments made via credit and debit cards, according to a report. Until now, the unified payments interface (UPI) platform was charging users Rs. 3 as a service fee on mobile recharges. However, it will now reportedly also levy a charge, in addition to the goods and service tax (GST), on utility bil...
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65% Transactions Now Digital In Small-Town India, Gen X Leads The Charge
About 65 per cent of transactions by consumers in small-town India are now digital, while in larger cities this ratio was around 75 per cent, a new report showed on Tuesday.
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Google Pay Said to Begin Collecting Convenience Fee on Mobile Recharge Transactions
Google Pay has begun charging a convenience fee when users purchase a mobile recharge plan, according to user reports online. The company appears to have joined rival payment platforms Paytm and PhonePe that previously introduced a convenience fee when users make prepaid recharge payments. Google Pay has reportedly begun to charge up to Rs. 3 in co...
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No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement.
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UPI Reaches Record High of Payments Worth Rs. 12.82 Lakh Crore in December 2022
Payments through the Unified Payments Interface (UPI) touched a record high of Rs. 12.82 lakh crore in December. During the month, 782 crore transactions in volume terms were done on the platform, which was launched in 2016.
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RuPay Credit Card UPI Usage: No Charge for Transactions Up to Rs. 2,000, NPCI Says
RuPay credit card Unified Payments Interface (UPI) transactions under Rs. 2,000 will not be charged, as per RBI directions. According to a circular from the National Payments Corporation of India, nil Merchant Discount Rate (MDR) would apply for this category up to the transaction amount less than and equal to Rs 2,000. The NPCI's decision is aimed...
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UPI Is Digital Public Good, Services to Remain Free, Ministry of Finance Says
UPI, or Unified Payments Interface, services in India will not carry a service charge, the finance ministry said on Sunday. The ministry referred to UPI as a digital public good with immense convenience for the public and productivity gains for the economy. The total number of UPI transactions had crossed the 6 billion mark in July.
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RBI Seeks Public Opinion on Fees, Charges in Payments Systems: All Details
The Reserve Bank of India (RBI) is seeking public opinion on fees and charges on payment systems including Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) system, Real Time Gross Settlement (RTGS) system, Unified Payments Interface (UPI), and debit and credit cards. The central bank wants to make such transactions afford...
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BHIM (Bharat Interface For Money) App: How To Send, Receive Money, Set PIN
UPI transaction volume - including BHIM transactions - rose more than 10 per cent in July to 11.63 million, according to the NPCI.
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UPI Payments May Be Chargeable From July 10
For transaction amount of Re. 1 to Rs. 25,000, the fee will be Rs. 3 plus taxes.
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Government Limits Charges On Electronic Fund Transfer Over Rs 1,000
In order to encourage digital transactions, the Finance Ministry today asked public sector banks to restrict fee on payments through IMPS and UPI to the extent that is applicable for NEFT fund transfer of over Rs 1,000.
-
RBI Governor Says No Proposal To Levy Charges On UPI Transactions
Reserve Bank Governor Sanjay Malhotra on Wednesday said there is no proposal to levy any charge on UPI transactions.
-
No Plan To Levy Merchant Discount Rate On UPI Transactions: Finance Ministry
The Finance Ministry on Wednesday said that "speculation and claims that the MDR (merchant discount rate) will be charged on UPI transactions are completely false, baseless, and misleading".
-
Exclusive: Government Weighs Charges On UPI Payments Over Rs 3,000
This comes as banks and payment service providers have raised concerns about the rising cost of handling high-value digital transactions.
-
Google Pay Reportedly Levies Convenience Fees on Bill Payments via Credit and Debit Cards
Google Pay is now levying convenience fees on bill payments made via credit and debit cards, according to a report. Until now, the unified payments interface (UPI) platform was charging users Rs. 3 as a service fee on mobile recharges. However, it will now reportedly also levy a charge, in addition to the goods and service tax (GST), on utility bil...
-
65% Transactions Now Digital In Small-Town India, Gen X Leads The Charge
About 65 per cent of transactions by consumers in small-town India are now digital, while in larger cities this ratio was around 75 per cent, a new report showed on Tuesday.
-
Google Pay Said to Begin Collecting Convenience Fee on Mobile Recharge Transactions
Google Pay has begun charging a convenience fee when users purchase a mobile recharge plan, according to user reports online. The company appears to have joined rival payment platforms Paytm and PhonePe that previously introduced a convenience fee when users make prepaid recharge payments. Google Pay has reportedly begun to charge up to Rs. 3 in co...
-
No Charge on Normal UPI Payments, 1.1 Percent Fee to Be Levied on PPI Merchant Transactions: NPCI
National Payments Corporation of India (NPCI) on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. However, interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers, NPCI clarified in a statement.
-
UPI Reaches Record High of Payments Worth Rs. 12.82 Lakh Crore in December 2022
Payments through the Unified Payments Interface (UPI) touched a record high of Rs. 12.82 lakh crore in December. During the month, 782 crore transactions in volume terms were done on the platform, which was launched in 2016.
-
RuPay Credit Card UPI Usage: No Charge for Transactions Up to Rs. 2,000, NPCI Says
RuPay credit card Unified Payments Interface (UPI) transactions under Rs. 2,000 will not be charged, as per RBI directions. According to a circular from the National Payments Corporation of India, nil Merchant Discount Rate (MDR) would apply for this category up to the transaction amount less than and equal to Rs 2,000. The NPCI's decision is aimed...
-
UPI Is Digital Public Good, Services to Remain Free, Ministry of Finance Says
UPI, or Unified Payments Interface, services in India will not carry a service charge, the finance ministry said on Sunday. The ministry referred to UPI as a digital public good with immense convenience for the public and productivity gains for the economy. The total number of UPI transactions had crossed the 6 billion mark in July.
-
RBI Seeks Public Opinion on Fees, Charges in Payments Systems: All Details
The Reserve Bank of India (RBI) is seeking public opinion on fees and charges on payment systems including Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) system, Real Time Gross Settlement (RTGS) system, Unified Payments Interface (UPI), and debit and credit cards. The central bank wants to make such transactions afford...
-
BHIM (Bharat Interface For Money) App: How To Send, Receive Money, Set PIN
UPI transaction volume - including BHIM transactions - rose more than 10 per cent in July to 11.63 million, according to the NPCI.
-
UPI Payments May Be Chargeable From July 10
For transaction amount of Re. 1 to Rs. 25,000, the fee will be Rs. 3 plus taxes.
-
Government Limits Charges On Electronic Fund Transfer Over Rs 1,000
In order to encourage digital transactions, the Finance Ministry today asked public sector banks to restrict fee on payments through IMPS and UPI to the extent that is applicable for NEFT fund transfer of over Rs 1,000.
