Stop charging platform fee on BBPS payments: NPCI directs payment apps

The National Payments Corporation of India (NPCI) has directed the payment apps to stop charging platform fees for the Bharat Bill Payment System (BBPS) payments. NPCI’s directive comes days after a discussion paper was released by the Reserve Bank of India (RBI) related to such charges.

A report by the Times of India stated that PhonePe, one of the largest UPI payment platforms in India, had started charging fees on some recharges and other payments. In July, Paytm also started charging Rs 1 for various bill payments.

After NPCI’s directive, Paytm announced that it is no longer charging the fees from the customers. PhonePe has also announced that it is discontinuing charging the fees on the BBPS platform, the report added.