UPI

No plans to impose levy on UPI payments, says Finance Ministry

“Cost recovery concerns of digital payment service providers must be met by other means,” the ministry said in a statement

The finance ministry on Sunday called UPI services a “digital public good” and said the government was not considering charging them, four days after the Reserve Bank of India (RBI) released a discussion paper on charging fees in payment systems including UPI, NEFT and IMPS. While officials who were aware of the reasoning behind the …

“Cost recovery concerns of digital payment service providers must be met by other means,” the ministry said in a statement Read More »

Paytm is levying platform fee on recharges. Photo: Mint

Paytm starts charging ‘forum fees’ for re-payment. See details here

Did you notice the change in Paytm while charging? It has already started charging ‘platform fees’ for re-payment made. Paytm charges between Rs 1 to Rs 6 as a luxury payment, stadium fee, toll, or whatever you charge, for a re-charge made on the platform. Not only is it limited to Paytm Wallet but it …

Paytm starts charging ‘forum fees’ for re-payment. See details here Read More »

Mobile payments more than doubled to almost $1 trillion in 2021 from the year before

In the development of mobile payments in India, even beggars receive QR codes

Raju Prasad has started accepting donations via mobile payment apps a few months ago. The 42-year-old said his take was almost double to 300 rupees a day – that’s about $ 4, plus more than the average daily wage of a farm worker in Bihar, India’s poorest province. Many travelers now spend more than 5 …

In the development of mobile payments in India, even beggars receive QR codes Read More »

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