InvestorQ : I read some usage fees have been slashed by the UPI. What does this mean for users?
shivangi Arora made post

I read some usage fees have been slashed by the UPI. What does this mean for users?

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Anusha Savla answered.
1 year ago
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National Payments Corporation of India (NPCI), which runs the Unified Payments Interface (UPI) network, has reduced usage fees for small transactions. This decision was taken in order to expand UPIs adoption among banks and payment service providers (PSPs).

Charges have been reduced to 10 paise from 25 paise for transactions up to Rs 1000.

The charge for transactions above Rs 1000 has been maintained at 50 paise.

Furthermore, incentive payments, which are the charges banks and payment service providers pay to NPCI when they credit the user’s bank account with cashbacks, too have been fixed at 10 paise.
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