UPI Transaction Charges –The Public Installment Partnership of India (NPCI) has begun to demand the 1.1% Charges on UPI Exchanges above ₹2000/ – from the first of April 2023 just on the trader not on clients. UPI Transaction Charges will be borne by the merchant, not the customers, as of April 1, 2023, according to the latest news update and clarification provided by the NPCI. However, it is also stated that there will be no transaction fees if you use the Banking App for Digital Payments. Presently individuals are exceptionally confounded about the UPI Exchange Expenses 2023 which will be charged to the end client.
In accordance with the new UPI New Guidelines 2023, which take effect on April 1, 2023, if you conduct a transaction of Rs 2100 from a customer using GPay, Paytm, Bharatpe, or any other UPI app, you will be required to pay a surcharge of Rs 22 for the transaction. The Government’s move has enraged a lot of people, and some of them support it because it will help the country grow. We encourage you to read this post briefly and review the UPI Charges as of April 1, 2023, as well as other information.
UPI Transaction Charges 2023
We are aware that the exchange of digital payments in India is controlled by the Indian government and its department, the National Payment Corporation of India. Now, if you’re a merchant who uses Gpay, Phonepe, Amazon Pay, or WhatsApp Pay, please note that UPI Transaction Charges 2023 will be 1.1% if you pay 2000 from April 1, 2023. According to the most recent guidelines, the merchant will bear this surcharge, but the customer will not be required to pay the amount.
Notwithstanding, the specific answer for this issue is that you can utilize the Banking Application to Sweep QR Codes and pay carefully which will be liberated from cost. You can essentially demand your Bank to open the Dealer Record and afterward utilize the fundamental subtleties to get the QR Code for your Shop. The UPI Transaction Fees 2023 can be found here, and you can then learn about the fees you need to pay for every transaction above Rs 2000/-.
UPI Transaction Charges 2023 Details
| News Name | UPI Transaction Charges from 1st April 2023 |
| Implemented by | National Payment Corporation of India |
| Transaction Charges | 1.1% on Transactions above Rs 2000/- |
| Effective From | 1st April 2023 |
| UPI Free Limit 2023 | ₹2000/- on Merchant ₹0/- on Customer |
| GPay Free Limit 2023 | ₹2000/- on Merchant ₹0/- on Customer |
| PhonePe Free limit 2023 | ₹2000/- on Merchant ₹0/- on Customer |
| BharatPe Free Limit 2023 | ₹2000/- on Merchant ₹0/- on Customer |
| Paytm UPI Free Limit 2023 | ₹2000/- on Merchant ₹0/- on Customer |
| Article Category | Tech |
| Portal | Discussed Below |
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UPI Free Limit GPay, PhonePe, Paytm, BharatPe
We are aware that the Unique Payment Interface is one of the most significant revolutions in India and elsewhere in the world. This is the simplest method of mobile payment for many people. The current fixed UPI Free Limit for GPay, PhonePe, Paytm, and BharatPe is 2000/-. You are required to deduct 1% from your account for any transfer or transaction exceeding this amount. Now, the NPCI says that these fees will come from the merchant, not the payee, the End Consumer.
UPI Transaction Charges from 1 April 2023
- In a tweet, the NPCI made it clear that any transaction that is more than Rs 2000/- will be subject to fees starting on April 1st.
- Second, you should be aware that as of April 1, 2023, Merchant will be responsible for these transactions in accordance with UPI Transaction Charges.
- However, since this was made clear after concerns were raised, complete guidelines have not yet been released.
- Above the UPI Free Limit 2023, all transactions will be subject to a total of 1.1% fee.
- The Transaction Fees for each merchant and the solutions to this issue are provided in the following section.
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UPI Transaction Guidelines 1st April 2023
- The tension among users stems from the forthcoming implementation of the New UPI Transaction Guidelines on April 1, 2023.
- You are required to pay Rs 1.1% for each transaction above 2000/- in accordance with the new UPI Guidelines.
- To avoid these charges, you must use your bank’s Banking or UPI app, which they will provide for free.
- PPI, which stands for Prepaid Payments Instruments Fees, is the name of this new surcharge, and it will be applied to amounts greater than 2000/-.
- In excess of 8 Crore, UPI clients are strained because of this choice of Public Installment Organization of India.
UPI Transaction Fees 2023
- You are required to pay this limit on the aforementioned transactions because it is set by NPCI.
- This surcharge is set at 1.1% of the amount you transfer using UPI that is greater than 2000/-.
- For your convenience, we have provided the amounts or fees associated with the crucial transactions in the preceding section.
| Amount | UPI Transaction Fees 2023 (Not for Customer) |
| Rs 2000/- | Rs 22/- |
| Rs 3000/- | Rs 33/- |
| Rs 4000/- | Rs 44/- |
| Rs 5000/- | Rs 55/- |
| Rs 6000/- | Rs 66/- |
| Rs 10,000/- | Rs 110/- |
| Rs 20,000/- | Rs 220/- |
| Rs 30,0000/- | Rs 330/- |
| Rs 40,0000/- | Rs 440/- |
| Rs 50,000/- | Rs 550/- |
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UPI Transaction Charges 2023 Solutions
For the UPI Transaction Charges 2023, we’ve looked at a lot of options in this section. You will be able to save these fees if we adhere to the NPCI rules and use the Banking or UPI apps to pay the merchant. Scan the QR codes with the HDFC, ICICI, or SBI banking apps, and then make a payment using your bank account. For all transactions exceeding 2000/-, you will be required to deduct 1% from your account if you wish to use any other third-party payment apps. We advise downloading the official banking app and making payments through these portals. Utilizing the Official UPI App will unquestionably result in significant savings.
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