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UPI apps to charge users more as govt cuts subsidy
Financial Express Kochi
|March 03, 2025
Currently, Payment Service providers (PSPs) and third-party application providers receive just 5 basis points (0.05%) of each transaction, shared equally between them.
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CURRENTLY, PAYMENT SERVICE providers (PSPs) and third-party application providers receive just 5 basis points (0.05%) of each transaction, shared equally between them.
Meanwhile, the bulk of the interchange fee—up to 0.25% of the transaction value—is retained by the remitter and receiver banks.
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