A new fee structure will come into effect for UPI in the digital payments system. The article mentions the imposition of an interchange fee of up to 0.4 per cent on certain business transactions above Rs 2,000.
However, normal person-to-person payments will continue to be free. The article explained that the change is being discussed in the context of the cost of UPI system maintenance, cyber security and fraud prevention.
New charge policy on UPI transactions.. Changes from October 15
Charges will change in the UPI system for certain types of business transactions. The article explained how an interchange fee of up to 0.4 percent would be applicable on certain transactions worth more than Rs.2,000.
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- A fee of up to 0.4% on certain business transactions.
- The article clarifies that this charge does not apply to normal person-to-person payments.
