29 November 2022

Mumbai : Payment apps have been directed to stop charging a platform fee for payments on the Bharat Bill Payment System ( BBPS ). The directive came from the National Pay ments Corporation of India ( NPCI ) and is in light of the RBI’s recent discussion paper on such charges. The government also seems inclined to treat the UPI as a public good that customers do not have to pay for.

Last year, PhonePe started charging for some mobile recharges and other payments. The company had described the move as an experiment. In July Paytm too had started charging Rel for bill payments.

not to charge bill payment fees
not to charge bill payment fees

However, in the second week of August, the NPCI is understood to have written to payment apps and asked them to stop charging even this small fee. Paytm officials said that they immediately discontinued the charge.

PhonePe has said that it has stopped charging for transactions on the Bharat BillPay platform. However, it said that the charges which are appearing are for services where it has built di rect connectivity with the biller without going through BBPS.

” We have been running experiments. The results look promising and reflect that a very large majority of Indian consumers ( 98 % ) are willing to pay a nominal fee for convenience. For now, we have temporarily paused our platform fees experiments on all eligible BBPS categories. We will share our experimental findings with NPCI / BBPS, ” said Phonepe.

The NPCI did not respond till the time of going to press.

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