UPI Transaction Charges 2023 | UPI Transaction Fee 2023 | What is the UPI transaction charges in India 2023? | UPI Transaction Charges Free Limit Gpay, Paytm, PhonePe | UPI Transaction Charges
UPI transaction charges 2023 related all the details are available in this article. Recently National Payment Corporation of India which is also known as NPCI is going to apply a 1.1% charge for people who are doing UPI payments above rupees 2000. According to the sources UPI transaction charges are going to impose with the effect of 1st April 2023. If you are interested to get the information in detail then you may read this article very carefully.
UPI Transaction Charges 2023
According to the latest update by the NPCI with the effect of first of April 2023 on any transaction made by people through UPI, authorities are going to take 1.1% charge. This charge is applicable to the merchants only and not on the customers. All those who are using Bank UPI app for doing digital payments, they also need not to pay any charge on transaction. UPI Transaction Fees 2023 related all the information is available in this article further.
UPI transaction charges are taken by the National Payment Corporation of India from the merchants who are making UPI payments of more than 2000 rupees. The transaction charges are going to impose only on merchants not on customers. If you are doing UPI transactions and confused about whether you have to pay UPI transaction fee or not then you may read this article very carefully. In this article we are going to elaborate in detail about the UPI transaction charges related changed rule of NPCI.
Highlights Of UPI Transaction Fees 2023
|Article about||UPI Transaction Charges|
|Organisation||National Payment Corporation of India|
|Information for||general public|
|Applicable from||1st April 2023|
|Type of UPI||GPay, Paytm, PhonePe, AmazonPay etc.|
UPI Transaction Charges News
Now the National Payment Corporation of India is going to impose UPI transaction charges. All those people who are using UPI transaction applications to do UPI transactions must pay attention over here. Nowadays many UPI applications including Google pay, Paytm phone etc are using by the people. Through these applications, people transfer money from one account to another’s bank account. Now merchants have to pay UPI transaction fee to make the payment through UPI.
Any merchant who is going to do UPI Payment from his bank account to another person’s bank account need to pay charges with effect from the first April 2023. If you are doing a payment of Rs. 2100 even via Google pay phone pe aur any other UPI transaction app then you have to pay a UPI Transaction Fees 2023 of Rs 22. Many people are furious about the new rule given by the government of India related to the UPI payment.
UPI Transaction Fee
Here is the information related to the UPI Transaction Fees 2023 which you have to pay if you are doing a UPI transaction above then rupees 2000:
|Amount||UPI Transaction Fees 2023 (Not for Customer)|
|Rs 2000/-||Rs 22/-|
|Rs 3000/-||Rs 33/-|
|Rs 4000/-||Rs 44/-|
|Rs 5000/-||Rs 55/-|
|Rs 6000/-||Rs 66/-|
|Rs 10,000/-||Rs 110/-|
|Rs 20,000/-||Rs 220/-|
|Rs 30,0000/-||Rs 330/-|
|Rs 40,0000/-||Rs 440/-|
|Rs 50,000/-||Rs 550/-|
UPI Transaction Charges 2023 Solution
You might have questions in your mind how you can save your money or not to pay UPI transaction charges. The answer of the question is very simple you just need to follow the guidelines given by National payment Corporation of India. No charges are going to impose on any merchant if the payment is made by bank app which means you can use the applications launched by your bank to make UPI transactions. The charges are applicable only on the UPI transactions made by third-party payment apps. If you are going to use Gpay, Paytm, PhonePe or other third-party applications to make UPI payments then you have to pay the charges.
FAQs – UPI Transaction Charge
What is UPI transaction charges?
UPI transaction charges is the fee imposed by the National Payment Corporation of India on UPI transactions made through third party application.
How many charges I have to pay?
If you are using third party application to make UPI payments then you have to pay 1.1% fee.
What is the free transaction limit?
If you are paying less than Rs 2000 then you need not to pay any charges.
From when the new rules of UPI transaction is applicable?
New rules related to the UPI transaction charges is going to applicable from first April 2023.
Who has to pay UPI transaction charges?
Only those UPI users who have merchant accounts and doing payment more than rupees 2000.