UPI Transactions Over ₹ 2,000 will be charged up to 1.1%. Starting from 1st April,2023

 The National Payments Corporation of India (NPCI) has declared that an transaction fee of up to 1.1 percent will be applied on merchant UPI transaction from 1st April.

UPI transaction charge for merchants will be implemented from 1st April 2023

The transaction will be levied on Prepaid Payment Instruments(PPIs) for transactions through UPI. The charges will be applied only if the transaction is more than 2000 Rs.

The charges will be applied only if the transaction is more than 2000 Rs.

The transaction charge will vary from 0.5% to 1.1% and a limit will also be applicable in few categories.

NPCI said that the fee is only applicable for merchant transactions via PPI. It also cleared that NO charges will be applied on Normal UPI payments. For eg. transactions from one bank account to other bank accounts based on UPI payments. 

The transaction fee for fueling is 0.5% 

For insurance, government, mutual funds and railways, the transaction charge is 1%. 0.5% for fueling and for agriculture it is 0.7% as per the CNBC TV-18 reports.

                                      

For Supermarkets like Dmart, Reliance Mart and other, the transaction fee is 0.9%.

For Supermarkets like Dmart, Reliance Mart and other, the transaction fee is 0.9%. For telecommunications, educations and utilities/post offices, the transaction fee is 0.7%. 

The transactions charges will be applicable from 1st April. 

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