PhonePe tries recharge fee on some users

Mumbai: PhonePe has started charging a small section of users a platform fee for recharges, ranging from Re 1 to Rs 2.
A spokesperson said that for those who are part of the experiment, the fee is Re 1 for transactions between Rs 50 and Rs 100, and Rs 2 for transactions above Rs 100. “This is an experiment on a small base, which is a sliver of our users. Most users are possibly being charged Re 1 and are among active users. Nothing has been decided as yet,” a spokesperson said.
Last week, PhonePe reported a 44% drop in losses to Rs 888 crore for FY21, while revenues jumped over 84% year-on-year to Rs 690 crore. PhonePe, like most fintechs, has been providing services free of cost to users even as it incurred operational expenses.