No charge on UPI payment; interoperable fee only on merchant transactions: NPCI

Updated: Mar 29 2023 8:35PM

New Delhi, Mar 29 (PTI) National Payments Corporation of India (NPCI) on Wednesday clarified that bank to bank account transfer via UPI will continue to remain free but any merchant payment that goes through two different wallets will be chargeable above Rs 2,000.

The interoperable charge of 1.1 per cent for each transaction above Rs 2,000 will be payable by merchant from April 1.

"Interchange charges are only applicable for the prepaid payment instruments (PPI) merchant transactions and there is no charge to customers," NPCI, payment gateway, clarified in a statement.