NPCI announces 1.1% interchange fee for UPI payments via prepaid instruments and wallets

  • The National Payments Corporation of India (NPCI) has set the interchange fee at 1.1% for merchant transactions initiated using a Prepaid Payment Instrument (PPI) such as mobile wallets on the Unified Payments Interface (UPI) network.
  • This fee applies to UPI payments via prepaid instruments and wallets.
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