New fees on UPI payments: Why Paytm, GPay, PhonePe and other users need not worry

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The National Payments Corporation of India (NPCI) has recently set the interchange fee at 1.1% for merchant transactions initiated using a Prepaid Payment Instrument (PPI) such as mobile wallets on the Unified Payments Interface (UPI) network. The changes take effect from April 1, according to the NPCI circular.

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