Comparing Interchange Fees: 1.1% Charges for UPI Transactions above ₹2,000 in Line with IMPS Rates
The wallet interoperability norms of the NPCI have been implemented starting from April 1st. These norms not only enable prepaid payment instruments (PPI) wallets to seamlessly integrate into the UPI ecosystem but also establish an interchange fee of 1.1% for PPI transactions exceeding ₹2,000 through UPI. While this development brings substantial benefits to customers, … Read more