Google Pay to Price Charges on Invoice Bills by means of Credit Score and Debit Playing Cards, WhatsApp, UPI

The popularity of Unified Payments Interface (UPI) has increased rapidly over the years. Consciousness fees will have to be paid on paying the bill through credit and debit cards on Google Pay, which provides UPI payments facilities. Earlier, there was a service of three rupees for mobile recharge on Google Pay.

According to a media report, this platform will have to pay the Goods and Services Tax (GST) to pay bills like electricity, water and gas. This fee will be from 0.5 percent to 1 percent of the value of transaction. It is being called ‘processing fees’ for credit and debit card transactions. Other UPI platforms like Paytm and PhonePe also charge such fees. This fee on Paytm is between Rs 1 and Rs 40. This fee on PhonePe ranges from 0.5 percent to 1 percent of the value of transaction.

In January this year, about 17 billion UPI payments have been made in the country. The total value of these payments was about Rs 23.48 lakh crore. This is an increase of about one percent as compared to December last year. Transactions reached around 16.73 billion in December through UPI. In December, the total value of transactions through UPI was about Rs 23.25 lakh crore. In the previous month, this figure was about 21.55 lakh crore rupees. In December, the average value of these transactions per day was around Rs 74,990 crore.

Last year, NPCI launched the UPI One International Wallet Service for Non-Resident Indians (NRI) and international travelers who visited the country. This will provide the facility to access the UPI by accessing the UPI who do not have an Indian bank account. NPCI has started this with IDFC First Storage and Transcorp Global Restricted under the guidance of Service Reserve Bank of India (RBI). The NPCI had said that the visitors of the country will be able to make digital payments in a safe manner to the merchants with UPI One International Wallet. For this, foreign travelers and NRI will need to download a prepaid payment instrument-UPI app.