Charging Merchants Fees For UPI Wallet Payments May Invite Legal Trouble

  • The NPCI announced a 1.1% interchange fee on UPI transactions from Prepaid Payment Instruments such as wallets in March.
  • HDFC bank confirmed the passing of these fees to merchants, sparking legal ambiguity.
  • It has been pointed out that this practice could violate the government’s ruling prohibiting merchant fees for UPI payments under the PSS Act, 2007.
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