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> EDIT: also sounds like Swish charges a fee to the banks? Sounds a bit outrageous for a payment system trying to be the best in the world to charge a fee. FWI
by wtmt 3y ago
> EDIT: also sounds like Swish charges a fee to the banks? Sounds a bit outrageous for a payment system trying to be the best in the world to charge a fee.
FWIW, NPCI charges all banks for UPI too. They’ve been eating most of those costs because the government didn’t allow them to charge (now those charges are slowly coming in). Banks haven’t been happy with the zero MDR regime for UPI.
- ramraj07 3y agoAccording to here: https://www.thehindubusinessline.com/money-and-banking/npci-recommends-up-to-11-interchange-fee-on-upi-transactions-of-over-2000-via-ppis/article66672519.ece/amp/ https://www.thehindubusinessline.com/money-and-banking/npci-... Doesn’t apply for transactions less than ₹2000 ($24 usd). Might sound like a small amount but most Indian transactions won’t cross that. And the fee doesn’t apply to p2p anyway.