UPI to Charge 1.1% Fee from April 2023
From April 2023, the NPCI will impose a 1.1% fee on transactions over INR 2,000 made via the UPI. The fee will be charged to payment service providers (PSPs).
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PhonePe
Scoop: In a huge consolidation move, PhonePe may acquire BNPL startup ZestMoney.
This is PhonePe’s second significant parent fundraising effort this year. The fintech powerhouse has relocated its headquarters from Singapore in addition to making a number of significant acquisitions to bolster its technological and financial platform play.