The National Payments Corporation of India (NPCI) on Wednesday said the recently introduced interchange charges are applicable only for Prepaid Payment Instruments (PPI) transactions and there will be no charges for normal UPI payments or “bank account to bank account UPI payments.”

Confusion had arisen about charges on normal UPI transactions payments after a recent NPCI circular said using Prepaid Payment Instruments (PPIs) for transactions through UPI will attract an interchange fee. The charges, which vary according to the category of merchants, will be levied if the transaction is of more than Rs 2,000, it added.

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