HomeUPIPhonePe Starts Charging Processing Fee on recharges and Payments.

PhonePe Starts Charging Processing Fee on recharges and Payments.

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.
PhonePe Charges on recharge between 50 and 100.
Fee on recharges above Rs. 100.
Not Only that PhonePe is also Charging Convenience Fees on Payments made using Debit / Credit Cards. PhonePe Processing Fee 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.
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