NPCI Announces No Charge on Regular UPI Payments

The National Payments Corporation of India (NPCI) has declared that there will be no charges for regular UPI payments made from bank account to bank account. However, the prepaid payment instrument (PPI) merchant transactions will be subject to an interchange charge of 1.1% for UPI transactions above Rs. 2,000. NPCI emphasised that the charges will not be imposed on customers. The addition of PPI wallets to the interoperable UPI ecosystem provides customers with the flexibility to use any bank account, RuPay Credit card, or prepaid wallets on UPI-enabled apps.

NPCI Announces No Charge on Regular UPI Payments

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UPI has become the preferred mode of digital payment, offering a fast, secure, and hassle-free experience. The most commonly used method for UPI transactions is linking the bank account on a UPI-enabled app for making payments, and these bank account-to-account transactions remain free for both customers and merchants.

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