Walmart’s digital payment app PhonePe will now charge a processing fee for all transactions. This means that you will no longer be able to transfer money or charge your phone without having to pay extra for everything you do.
The company has said it will charge a fee in the Re 1 to Rs 2 range for each purchase of a mobile charge for more than Rs 50. PhonePe is the first payment app to start with customized payments.
“At recharges, we do very little research where few users pay for mobile recharges. Rs. Re 1., ”a PhonePe spokesman told PTI.
PhonePe processing costs for UPI-based transactions in excess of Rs 50. If you do not spend up to Rs 50, you will not be charged any amount for the digital app. Like other payment apps, PhonePe will also start charging for credit card payments.
PhonePe is one of the most popular, widely used payment apps in India as well as Paytm and Google Pay. It recorded more than 165-crore UPI transactions in its area in September, closing more than 40 percent of the share of the program, according to a PTI report.
“We are not the only players or the payment platform that costs money. Charging less to pay off debts has now become a common industry practice and is done by some paid websites and payment platforms as well.
We only charge processing fees (so-called utility bills) on credit card payments only, ”a spokesman added.
For those who have not changed, such as Paytm and Google Pay, PhonePe can be used to transfer money via BHIM UPI, manage multiple bank accounts, check account balance, save beneficiaries from multiple bank accounts such as SBI, HDFC, ICICI & 140 + banks.
Renew paid mobile phone numbers like Jio, Vodafone, Idea, Airtel etc. You can purchase or renew insurance policies using PhonePe.
