Know more about interchange fee as NPCI considers policy change for UPI

The organisation that runs Unified Payments Interface (UPI) is considering implementing an interchange fee structure lower than credit card transactions, Business Standard report on Monday.

Sources in the know told the newspaper that the National Payments Corporation of India’s (NPCI) charges could be 1-1.2 per cent. Credit card typically have an interchange fee of 1.8-2 per cent for transactions.

Currently, there is no defined interchange fee for credit lines on UPI by NPCI.