UPI Payments News: The National Payments Corporation of India (NPCI) has recommended an interchange fee on Unified Payments Interface (UPI) transactions of over Rs 2,000 made through Prepaid Payment Instruments (PPIs). The move is said to be aimed at increasing revenue for banks and payment service providers, who are reportedly been struggling with the high cost of UPI transactions. The fee will be charged from April 1 and the interchange pricing will be reviewed by September 30, 2023.

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