It was on Tuesday when a report stated that soon UPI transactions are to be paid from 1st of April. The report stated that recommended imposition of 000.1% prepaid payment instrument (PPI) on transactions above Rs 1.This report was from National Payments Corporation of India (NPCI) which recommended PPI charge on merchant payments of more than Rs 2000. On these reports, NPCI issued a press release clarifying its stand and said that. What is in the report? :In the report it was said that, NPCI is prepared to launch of paid version of online transaction, It was recommended to impose 0.5-1.1% of this charge. Further Clarification: In a release issued on Wednesday, NPCI said that the Unified Payment Interface (UPI) is free. Fast Safe and uninterrupted. Transactions of more than Rs 8 billion are processed absolutely free of cost for users and businesses using bank accounts every month. NPCI Press Release: UPI is free, fast, secure and seamlessEvery month, over 8 billion transactions are processed free for customers and merchants using bank-accounts@EconomicTimes @FinancialXpress @businessline @bsindia @livemint @moneycontrolcom @timesofindia @dilipasbe— NPCI (@NPCI_NPCI) March 29, 2023 Also read: 'Why Would I Be Ashamed?' : Malayalam actress after her mother delivers baby at 47National Payments Corporation (NPCI) has set different interchange fees for different sectors, talking about the lowest InCharge fees it is in farming and telecom sector.   Actually, interchange fees have to be paid on merchant transactions i.e. merchants who pay. While the report talked about extra charges on transaction above Rs 2000, it was claimed that there will be no charge on any kind of transaction between the bank account and the PPI wallet. OTTIndia updates you with the latest news, Country's no.1 digital news platform OTTIndia, Keeps you updated with national, and international news from all around the world. For more such updates, download OTTIndia app on your Android and IOS device

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