UPI Transactions Over  ₹2,000 To Attract 1.1% Fee to Merchants only: Know Everything

UPI Transactions Over ₹2,000 To Attract 1.1% Fee to Merchants only

NPCI has notified that an interchange fee of up to 1.1% will be applicable on merchant UPI transactions from April 1.

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But, there are no charges for the bank account to bank account based UPI payments i.e. normal UPI payments.

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The interchange fee will only be applicable to merchants who take payments via merchant QR codes and there won't be any fee for the customer.

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The interchange fee varies for the different categories of merchants. It ranges from 0.5% to 1.1% and a cap is also applicable in certain categories.

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For telecom, education, and utilities, the fee is 0.7%, 0.9% for supermarkets, 1% for insurance, mutualfunds, and railways, 0.5% for fuel, and 0.7% for agriculture

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After the rumors of charge on UPI transactions, NPCI has clarified that there is no charge to customers and all normal P2P UPI transactions are completely free.

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PAN-Aadhar linking deadline extended to 30th June: Know Details

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