There are many misconceptions about UPI payments. Some adjustments have been made via NPCI. Let’s comprehend about them in detail.. National Payments Corporation of India (NPCI) has clarified that there is no cost on UPI payment.
have to give. But agencies issuing PhonePe, Google Pay and Paytm wallets will have to pay the charge. Means clients making UPI fee will no longer have to pay any sort of charge. But if you are a businessman and you have cash in your account wallet. If you choose to switch pockets money, then you will have to pay a cost for this transaction.
Who will have to pay the charge
1.1 percentage cost will be levied on receiving charge of Rs 2000 or greater from systems like Paytm Wallet. But if the charge is much less than Rs 2000, then no cost will be levied. This cost will be levied on the merchant. Regular UPI repayments are made at once from financial institution account to financial institution account. That’s why such fee used to be stored free. Explain that 99.9 percentage on-line price in India is accomplished thru UPI. In such a situation, it will have an effect on very few people.
Explain that via Paytm, PhonePe and Google Pay app, on the spot price is achieved from UPI to any different UPI app. But the cash is saved in the digital wallet. After that charge is made from it. A cost will be taken on the charge of extra than Rs 2000 from this digital wallet. However, it will no longer be charged from the person who will make the charge thru the digital wallet, however from the service provider who is receiving the cash from the digital wallet.
understand like this
Suppose you have paid Rs 5000 by using scanning the QR code at a shop, then there will be no charge. But if you have made a fee of Rs 4000 thru digital pockets with the aid of scanning the QR code, then the keep proprietor will have to pay the charge.
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