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Which UPI payments will attract interchange fee? Will I have to bear the cost?

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Athul seban Athul seban
Answered on March 31,2023

According to a recent announcement by the National Payments Corporation of India (NPCI), transactions of over Rs 2,000 using prepaid payment instruments (PPIs) such as wallets or cards will attract an interchange fee of 1.1% for certain merchant payments from April 1, 2023. 

The interchange fee will be applicable on UPI payments made to online merchants, large merchants and small offline merchants. However, all transactions will not attract the same surcharge

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