“All UPI transactions more than ₹2000 to be charged 1.1%, starting from April 1”
What FACTLY found
No charges will be applicable for regular UPI based bank account payments, starting 01 April 2023. The circular issued recently by NPCI is related to UPI based wallet payments. And even these interchange charges and service charges are borne by banks and wallet institutions, not the general consumers. NPCI has issued a clarification in this regard
Their words, from the summary they publish with the rating.
In short
This claim spread on social media around 29 March 2023. FACTLY (India) looked into it and published its finding on 31 March 2023, 2 days later. Its rating was “MISLEADING”.
Where the claim appeared
- Instagram posthttps://www.instagram.com/p/CqXoRAkNpUM/?utm_source=ig_embed&ig_rid=aa0256b9-68fc-4bc1-87…
Links recorded by FACTLY. Some posts may have been deleted since.
This check was done by FACTLY, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.