UPI customers alert! Google Pay begins charging for these transactions

Earlier, Google Pay partnered with NPCI to launch UPI Circle. This characteristic permits customers so as to add members of the family and buddies as secondary customers.

UPI or Unified Funds Interface has change into fairly common nowadays. From reserving flight tickets to creating small purchases from a road vendor, we’re utilizing this mode greater than the rest. Furthermore, individuals at the moment are utilizing UPI to make their invoice funds and renew their insurance policies. However there is a crucial replace for these utilizing Google Pay- one in all India’s dominant digital cost platforms.

Google Pay, which is the second-largest participant after Walmart-backed PhonePe, has launched a brand new comfort price for invoice cost. GPay, which has a 37 per cent share of UPI transactions, will cost a comfort price on invoice funds made with credit score and debit playing cards. Based on a report by the Financial Occasions, Google Pay is charging its customers for companies which have been fully free earlier.

Experiences stated that Google Pay will levy a price starting from 0.5 per cent to 1 per cent of the transaction quantity. Additionally, GST will apply to this. Nevertheless, there isn’t any official assertion concerning the comfort price of Google Pay.

This isn’t the primary time Google Pay has imposed such charges. Earlier, it levied a comfort price of Rs 3 for cell recharges. This isn’t the one platform to levy such charges for funds. PhonePe, the most important participant within the section, expenses a comfort price for on cost of payments via credit score or debit playing cards. Paytm too expenses something between Rs 1 to Rs 140 for recharges via UPI and invoice funds.

Google Pay on Friday launched UPI Circle, a characteristic permitting customers so as to add members of the family and buddies as secondary customers, to make digital funds with out linking their checking account.

Throughout the three-day World Fintech Fest (GFF) 2024 held in Mumbai, Google Pay made a slew of bulletins about its new options, together with UPI Circle.

Google Pay UPI Circle

Earlier, Google Pay partnered with NPCI for UPI Circle, a characteristic permitting customers so as to add members of the family and buddies as secondary customers, to make digital funds with out linking their checking account.