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UPI Transactions Over Rs 2,000 To Attract 1.1% Fee, But Customer Won't Pay

Merchant UPI transactions: The charges will be applicable from April 1. (File)
Merchant UPI transactions: The charges will be applicable from April 1. (File)
In a recent circular, the NPCI said that using Prepaid Payment Instruments (PPIs) for transactions through UPI will attract an interchange fee. The charges will be levied if the transaction is more than Rs 2,000.
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