In the rapidly evolving landscape of digital payments in India, the National Payments Corporation of India (NPCI) plays a pivotal role in ensuring seamless transactions. As digital payments surge, banks face increased pressure to process numerous small-value transactions, leading to system congestion. To address this, NPCI is considering a strategic reduction in interchange … [Read more...] about NPCI’s Strategy to Alleviate Banking Channel Congestion: A Comprehensive Overview
UPI
New NPCI Proposal Suggests Interchange Fee of Up to 1.1% for PPI UPI Transactions over ₹2,000
Starting from April 1st, an interchange fee of up to 1.1 percent will be applicable on prepaid payment instruments (PPIs) for merchant Unified Payments Interface (UPI) transactions, according to the National Payments Corporation of India (NPCI). The fee will be levied on UPI payments over INR 2,000 made to online merchants, large merchants, and small offline merchants. … [Read more...] about New NPCI Proposal Suggests Interchange Fee of Up to 1.1% for PPI UPI Transactions over ₹2,000
You Can Quickly Complete Transactions Below Rs. 200 Using UPI Lite! Is It Safe? Details
Unified Payments Interface or UPI in short is one of the most commonly used payment modes all over the country. UPI transactions are widely used for transactions that vary hugely in amounts. Right from paying for a cup of tea to paying for a home appliance - UPI is widely used. When you make transactions for amounts lesser than Rs. 200, like paying for tea and snacks, or … [Read more...] about You Can Quickly Complete Transactions Below Rs. 200 Using UPI Lite! Is It Safe? Details