1. US rules out bailout for Silicon Valley Bank, auctions reportedly underway 2. Apple CEO Tim Cook backs AR/VR headset, likely to launch this year 3. Infosys’ Mohit Joshi joins Tech Mahindra as MD and CEO

PhoenPe starts levying processing fees on mobile recharges

Spread the love

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.

Claim Free Bets
    DRISHTI SHARMA

    DRISHTI SHARMA

    All Posts

    Related Post

    View All

    Facebook invests $50mn to responsibly build ‘m...

    September 29th, 2021 | THE FREE MEDIA

    Spread the loveSocial media giant Facebook has announced that it will invest $50 million to partner with the organisation ...

    Delhi, Pune airports to get facial recognition syste...

    April 5th, 2022 | NISHA HIRANI

    Spread the loveThe central government on Monday announced that facial recognition systems will be installed at airports in...

    Trouble-free EV charging at home and office using yo...

    January 17th, 2022 | NISHA HIRANI

    Spread the loveThe Union Minister of Power announced revised guidelines for charging infrastructure of electric vehicles t...