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Government imposes surcharge for Google Pay and other payment apps

Government imposes surcharge for Google Pay and other payment apps

Government imposes surcharge for Google Pay and other payment apps: The National Payments Corporation of India (NPCI) has implemented interchange fees of up to 1.1 percent for prepaid payment instruments used in merchant UPI transactions beginning April 1. The fee, ranging from 0.5 percent and based on the merchant category code, will be charged for UPI payments exceeding ₹2,000 made to online merchants, large merchants, and small offline merchants.

March 2023 Current Affairs Quiz

Need of The Interchange fee:

About National Payments Corporation of India (NPCI):

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