All UPI money transfers, Offline and Online payments on PhonePe are free
National, October 26th, 2021: PhonePe, India’s leading digital payments platform today clarified that all UPI money transfers, Offline and Online payments (across UPI, Wallet, Credit and Debit cards) on the payment app are free, and they will continue to be free for all users. PhonePe does not charge for these transactions, and will not be doing so in the future also.
For Mobile Recharges, PhonePe is running an experiment where a small section of users are being charged a processing fee of Rs.1 for recharges of Rs 51-100, and Rs.2 for recharges above Rs.100. This charge is applicable for users across all payment instruments (across UPI, Wallet, Credit and Debit cards). Recharges below Rs.50 are totally free.
For Bill Payments PhonePe charges a fee on payments by credit cards, and this is now an industry norm and is common for many payment apps and biller platforms.
PhonePe is India’s leading digital payments platform with over 325 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. PhonePe forayed into financial services in 2017 with the launch of Gold providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched several Mutual Funds and Insurance products like tax-saving funds, liquid funds, international travel insurance, life insurance, and insurance for the COVID-19 pandemic among others. PhonePe is also accepted at 22+ million merchant outlets across India.
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