MUMBAI:
In the recent times, UPI has emerged as preferred mode of digital payment by offering free, fast, secure and seamless experience. Traditionally, the most preferred method of UPI transactions is linking the Bank account in any UPI enabled app for making payments which contributes over 99.9% of total UPI transactions. These Bank account-to-account transactions continue to remain free for Customers and Merchants.
Recent regulatory guidelines, the Prepaid Payment Instruments (PPI Wallets) have been permitted to be part of interoperable UPI ecosystem. In view of this NPCI has now permitted the PPI wallets to be part of interoperable UPI ecosystem. The interchange charges introduced are only applicable for the PPI merchant transactions and there is no charge to customers, and it is further clarified that there are no charges for the bank account to bank account based UPI payments (i.e. normal UPI payments).
With this addition to UPI, the Customers will have the choice of using any bank accounts, RuPay Credit card and prepaid wallets on UPI enabled apps.
more recommended stories
Orkla India Partners with CleanMax to Make MTR Karnataka Factories 100% RenewableBENGALURU:Orkla India, the parent company of.
IBS Software Transforms Airline Operations for Fuji Dream AirlinesTHIRUVANANTHAPURAM:Fuji Dream Airlines Japanese regional carrier.
KSUM Inks MoU with German IT Major adesso to Foster InnovationTHIRUVANANTHAPURAM:In a vital collaboration to ramp.
KSUM Opens LEAP Centre at Zilcubator in ManjeriMALAPPURAM:Kerala Startup Mission (KSUM) has opened.
Srishti Innovative Opens Third Office at Technopark Phase-1THIRUVANANTHAPURAM:Leading technology solution provider Srishti Innovative.
First Public Limited Firm Opens Office at Technopark-KollamKOLLAM:BizDataTech Consultancy Ltd., which specializes in.
Airtel Business and Sparkle Sign Agreement for Blue-Raman CapacityGURUGRAM/ROME:Airtel Business, the B2B arm of.
Kerala Best Suited for Medical Devices Industry: Minister P RajeeveKOCHI:Kerala has a highly conducive ecosystem.
Airtel Finance Introduces Fixed Deposits at Industry-leading Interest Rates of 9.1%NEW DELHI:Bharti Airtel, one of India’s.
Edtech Skool Guru Secures Spot in Microsoft for Startups Founders HubKOCHI:Skool Guru secured a prestigious spot.