# @muhammmed.ai on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/Cqxuq62rwm5
- **Gondola URL:** https://gondola.cc/posts/59774253-muhammmedai-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/c95b8cfc69.jpg
- **Posted:** 2023-04-08T13:48:16.000+00:00
- **Account Owner:** Muhammed (@muhammmed.ai) — https://gondola.cc/muhammmed.ai

## Caption

You don't have to pay charges on UPI transactions !!!

Recently, a circular from NPCI was released, which says, "NPCI recommends up to a 1.1% interchange fee on UPI transactions of over 2,000 via PPIs.
But people on social media wrongly interpreted that customers have to pay 1.1 percent charges for use of
UPI, which means UPI is no longer free. That is a completely wrong interpretation
In reality, merchants have to pay up to a 1.1 percent interchange fee on UPI transactions of over 2,000 via PPIs (prepaid payment interfaces).
PPl means digital wallet, e.g., Paytm wallet, Phonepay wallet, etc.

But UPI payments made from a bank account will remain free, and even person-to-person (P2P) and person-to-merchant (P2M) transfers from bank accounts and wallets are also tree.

Also, the PPl issuer shall pay 15 basis points as a wallet loading service charge to the remitter bank (the account holder's bank) for loading transaction values greater than Rs 2,000. This means when a customer loads a digital wallet for UPI transactions, the PPI issuer will have to pay a charge to the remitter bank.

While this does not have any impact on the customer at the moment, it could have an impact if the merchant and wallet issuer decide to pass on this additional charge to them.
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financewith.muhammed 
financewith.muhammed 
financewith.muhammed 

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#payments #upipayments #transactions #news #updates #googlepay #paytm #phonepe #wallet #fund #save #money #follow #instagram #viralvideos #information #malayalamreels

## Stats

- **Views:** 4,681
- **Likes:** 323
- **Shares:** 0
- **Comments:** 3

## Tags

updates, payments, save, money, fund, phonepe, information, viralvideos, instagram, paytm, upipayments, news, transactions, wallet, follow, malayalamreels, googlepay

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