NPCI Likely to Announce 1.2% Interchange for Credit Line on UPI
- NPCI is expected to set a 1.2% interchange fee for pre-sanctioned credit lines on UPI, with a circular likely next week. - The credit line will not be available for person-to-person transfers, focusing instead on merchant transactions. - Interchange fees are crucial for covering the risk and interest for the capital deployed by credit issuers. - Negotiations are ongoing between NPCI, banks, and UPI apps regarding revenue sharing, with TPAPs like PhonePe and Google Pay likely to get 0.08% commission. - The product has faced delays due to a lack of strong business cases, but NPCI mandates may drive adoption.
Just reminded me of ashneer grover saying something like, merko panipuri/chat bhi EMI par chaiye.
too much fun 🤣🤣
I just closed my Tata Neu Plus card, even though it was LTF. Simply not worth the hassle.
Now I mainly use SBI Cashback and Swiggy HDFC Card.
