PhonePe introduces Processing Fee on its Platform. Now it is Charging fees on recharges and Payments made on it. As a nominal fee, PhonePe is charging up to Rs. 2 on recharges. The introduction of these charges makes PhonePe has the first Digital Payment app to charge Processing fees for recharges. PhonePe is Charging a Processing fee of Rs. 1 for recharges in between Rs. 50 and Rs. 100. Processing Fee of Rs. 2 on recharges above Rs. 100 and there is no Charge on recharges below Rs. 50. Not Only that PhonePe is also Charging Convenience Fees on Payments made using Debit / Credit Cards. PhonePe says these Charges for Payments through Debit / Credit Cards are to cover the Cost of Processing.
PhonePe Spokesperson Said “On recharges, we are running a very small-scale experiment where a few users are paying for mobile recharges. Recharges below ₹50 are not charged, recharges between ₹50 and ₹100 are charged Rs. 1, and above ₹100 are charged ₹2. Essentially, as a part of the experiment, a majority of users are either not paying anything or paying Rs. 1”.But introducing these new charges on PhonePe might affect losing its users. It will benefit their Competitors to get a good audience. PhonePe is Indias Largest UPI App with a Market share of 47% over coming GPay and all other UPI Apps. Not only that it ranks on Top in Google Play Store for Top Free Finance apps.