PhonePe starts charging users for paying mobile bills. Details here
PhonePe starts charging users for paying mobile bills. Details here.
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PhonePe has started charging processing fees in the range of ₹1 to ₹2 per transaction for mobile charges
Walmart's
Group online payment application PhonePe has become the country's first
such app that has started charging for mobile recharges. Digital
payment app PhonePe has started charging processing fees in the range of
₹1 to ₹2 per transaction for mobile charges done for above ₹50.
The
company said it is not charging anything for mobile recharges below
₹50. For recharges between ₹50 and ₹100, it is charging ₹1 and above
₹100 mobile charges, the PhonePe customers will be charged ₹2.
"On
recharges, we are running a very small-scale experiment where a few
users are paying for mobile recharges. Recharges below ₹50 are not
charged, recharges between ₹50 and ₹100 are charged Re 1, and above ₹100
are charged ₹2. Essentially, as a part of the experiment, a majority of
users are either not paying anything or paying Re 1," PhonePe said.
And,
like other players, PhonePe is also charging processing fees for
payments made through credit cards. However, other transactions on
PhonePe and money transfers will continue to remain free of charge.
To
clarify on bill payments, "we are not the only player or payment
platform charging a fee. Charging a small fee on bill payments is now a
standard industry practice and is done by other biller websites and
payment platforms also. We charge a processing fee (called as
convenience fee on other platforms) on payments with credit cards only,"
the PhonePe spokesperson said.
PhonePe has the largest share
in terms of UPI transactions among the third-party apps. The company had
recorded over 165-crore UPI transactions on its platform in September,
clocking over 40% share among the app segment. PhonePe was founded in
2015 by former Flipkart executives Sameer Nigam, Rahul Chari, and Burzin
Engineer. The digital payment app has over 300 million registered
users.
Meanwhile, PhonePe is also charging processing
fees for payments made through credit cards, something that other
platforms do as well. However, other transactions on PhonePe and money
transfers will continue to remain free of charge.
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