Nagpur: Online application PhonePe has started charging for its UPI-based transactions. The Walmart group’s online payment app has become the first application in the country to do so.
The application has started charging processing fees of Rs 1 to Rs 2 per transaction for mobile charges done for above Rs 50, even if it’s through UPI. The company in a statement said that it will not be levying any processing fee for mobile recharges below Rs 50. However, for recharges between Rs 50 and Rs 100, fee is Rs 1 and if more than Rs 100, the users will be charged Rs 2.
“On recharges, we are running a very small-scale experiment where a few users are paying for mobile recharges. Recharges below ₹50 are not charged, recharges between ₹50 and ₹100 are charged Re 1, and above ₹100 are charged ₹2. Essentially, as a part of the experiment, a majority of users are either not paying anything or paying Re 1,” the company said in a statement.
PhonePe has also started charging for credit card payments like other online platforms. The online payment application has the largest share in terms of UPI transactions among the third-party applications.