Advertisement
Saturday, Dec 04, 2021
Outlook.com
Outlook.com

PhonePe Is Now Charging Processing Fee On Mobile Recharges

PhonePe has started charging processing fees ranging between Re 1 to Rs 2 per transaction for mobile recharges exceeding Rs 50.

PhonePe Is Now Charging Processing Fee On Mobile Recharges
PhonePe Is Now Charging Processing Fee On Mobile Recharges
outlookindia.com
2021-10-23T13:01:20+05:30

PhonePe has started charging processing fees ranging between Re 1 to Rs 2 per transaction for mobile recharges exceeding Rs 50. Rivals such as GooglePay, Paytm and Amazon among a host of others continue to offer the service for free. The company like its peers has been charging processing fees for facilitating credit card transactions. 

"On recharges, we are running a very small-scale experiment where a few users are paying for mobile recharges. Recharges below Rs 50 are not charged, recharges between Rs 50 and Rs 100 are charged Re 1 and above Rs 100 are charged Rs 2. Essentially, as a part of the experiment, a majority of users are either not paying anything or paying Re 1," a PhonePe spokesperson said.

It added that the company was not alone in charging a fee on bill payments. The spokesperson clarified, "Charging a small fee on bill payments is now a standard industry practice and is done by other biller websites and payment platforms also. We charge a processing fee (called as convenience fee on other platforms) on payments with credit cards only."

The digital transaction facilitator had recorded over 165 crore UPI transactions on its platform in September, recording over 40 per cent share in the app segment.

National Payments Corporation of India had placed a cap on the market share for UPI. It stated no player would be allowed to hold a market share exceeding thirty per cent. 

(With inputs from PTI)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Shaheen Bagh, CAA, Farmers’ Protest: Hip-Hop Is The Voice Of Dissent In India

Shaheen Bagh, CAA, Farmers’ Protest: Hip-Hop Is The Voice Of Dissent In India

Young, brash and little-known artistes are using hip-hop as an outlet to speak up and speak out.

World Disability Day: Visually Impaired Girls In Himachal Use Education To Dispel Darkness

World Disability Day: Visually Impaired Girls In Himachal Use Education To Dispel Darkness

Umang Foundation in Himachal Pradesh has helped many blind and visually impaired persons achieve their dreams by giving them access to higher education.

Mayank Notches Maiden 100 Vs NZ – Statistical Highlights

Mayank Notches Maiden 100 Vs NZ – Statistical Highlights

Mayank Agarwal's ton against New Zealand on Friday was his first since his 243 vs Bangladesh in 2019 at Indore.

Kashmir: Ghulam Nabi Azad Emerges As Key Player In J&K With Or Without Congress

Kashmir: Ghulam Nabi Azad Emerges As Key Player In J&K With Or Without Congress

Crowds at Congress leader Ghulam Nabi Azad's recent rallies show that he will be a key player in elections in Jammu and Kashmir, when they happen.

Advertisement