No charge for customers, do not spread misinformation: Paytm on UPI charges1 min read 29 Mar 2023, 12:36 PM IST
In its circular, NPCI said that the PPI fees will not be applicable to person-to-person transactions or person-to-merchant transactions between a bank and the prepaid wallet.
In its latest circular, the National Payments Corporation of India (NPCI) announced that it will start charging "Prepaid Payment Instruments (PPI)" fees on merchant transactions on Unified Payments Interface (UPI) starting April 1. The governing body said that the PPI fees would be levied on transactions above ₹2,000 on UPI payments done via GPay, Paytm and other apps. It will result in an interchange at 1.1% of the transaction value.
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