{"id":50589,"date":"2023-03-29T16:50:29","date_gmt":"2023-03-29T11:20:29","guid":{"rendered":"https:\/\/www.seminarsonly.com\/news\/?p=50589"},"modified":"2023-03-29T18:04:52","modified_gmt":"2023-03-29T12:34:52","slug":"upi-payment-charges-transaction-fee-for-upi-payments-from-april-01-2023","status":"publish","type":"post","link":"https:\/\/seminarsonly.com\/news\/upi-payment-charges-transaction-fee-for-upi-payments-from-april-01-2023\/","title":{"rendered":"UPI Payment Charges : Transaction Fee for UPI Payments from April 01, 2023"},"content":{"rendered":"<h2><span style=\"color: #800000;\">UPI Payment Charges : Transaction Fee for UPI Payments from April 01, 2023<\/span><\/h2>\n<p><em><strong>Nevertheless, beginning on April 1, 2023, a fee of 1.1% of the transaction value will be charged when utilizing PPI on UPI for amounts over Rs 2,000. <\/strong><\/em><\/p>\n<p>With the advent of UPI, digital payment systems in the country have seen a dramatic transformation. The UPI network now includes everyone from mom-and-pop stores to multinational e-commerce corporations. UPI has seen unprecedented increase in the number of transactions processed annually. Most of us now prefer to use UPI while making purchases.<\/p>\n<p>Nevertheless, beginning on April 1, 2023, a fee of 1.1% of the transaction value will be charged when utilising PPI on UPI for amounts over Rs 2,000. NPCI (India&#8217;s National Payments Corporation) has published a circular about UPI. Payments sent to merchants via UPI have been rumored to incur a prepaid payment instrument (PPI) fee.<\/p>\n<p><img decoding=\"async\" class=\"lazyloaded aligncenter\" title=\"The interchange pricing will be introduced on April 1, 2023, and then again reviewed by September 30, 2023.\" src=\"https:\/\/akm-img-a-in.tosshub.com\/businesstoday\/images\/story\/202303\/upi-sixteen_nine.jpg?size=948:533\" alt=\"The interchange pricing will be introduced on April 1, 2023, and then again reviewed by September 30, 2023.\" width=\"585\" height=\"329\" data-src=\"https:\/\/akm-img-a-in.tosshub.com\/businesstoday\/images\/story\/202303\/upi-sixteen_nine.jpg?size=948:533\" \/><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"rBegz0dy2Y\"><p><a href=\"https:\/\/www.seminarsonly.com\/news\/what-do-i-do-when-my-upi-payment-gets-stuck-or-transaction-fails\/\">What do I do, When my UPI Payment Gets Stuck or Transaction Fails?<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;What do I do, When my UPI Payment Gets Stuck or Transaction Fails?&#8221; &#8212; Seminarsonly.com\" src=\"https:\/\/www.seminarsonly.com\/news\/what-do-i-do-when-my-upi-payment-gets-stuck-or-transaction-fails\/embed\/#?secret=rwkv0eqQRO#?secret=rBegz0dy2Y\" data-secret=\"rBegz0dy2Y\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h2><span style=\"color: #800000;\">Transaction Fee for UPI Payments from April 01, 2023<\/span><\/h2>\n<p><em><strong>If the total amount is greater than $2,000, then a fee of<\/strong><\/em><\/p>\n<p>1. Reportedly stated in an NPCI circular, the interchange fee will be applied to any transaction above 2,000.<\/p>\n<p>2. For UPI to PPI transactions over Rs.2,000, the total interchange charge will be 1.1% of the transaction value.<\/p>\n<p>3. Prepaid Payment Instruments (PPIs) are now compatible with the UPI interoperable ecosystem, according to a news release from the NPCI.<\/p>\n<p>5. While conducting PPI merchant transactions, the interchange fee is due. Sending money from one bank account to another does not incur any interchange fees.<\/p>\n<p>On April 1, 2023, this new regulation will go into effect.<\/p>\n<p>In addition, the National Payment Corporation of India will have its review meeting after this rule goes into effect, but before September 30, 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UPI Payment Charges : Transaction Fee for UPI Payments from April 01, 2023 Nevertheless, beginning on April 1, 2023, a fee of 1.1% of the transaction value will be charged&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-50589","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>UPI Payment Charges : Transaction Fee for UPI Payments from April 01, 2023 - 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