PhonePe, a Walmart group’s digital payments firm, is now charging processing fees for mobile recharge above Rs. 50. The company will charge Re 1 to Rs. 2. Notably, no other company is charging a processing fee on transactions. PhonePe has become the first digital payments app that is charging for transactions.
“On recharges, we are running a very small-scale experiment where a few users are paying for mobile recharges. Recharges below Rs 50 are not charged, recharges between Rs 50 and Rs 100 are charged Re. 1 and above Rs. 100 are charged Rs. 2. Essentially, as a part of the experiment, a majority of users are either not paying anything or paying Re 1,” a PhonePe spokesperson said.
It is worth noting that the app has the largest share in UPI transactions amongst all apps. PhonePe has managed to post 165 crore UPI transactions in only September month. It has a 40 percent share amongst all apps.
“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 a convenience fee on other platforms) on payments with credit cards only,” the spokesperson added.
Other Transactions Are Free
However, other transactions and money transfers will remain free on the platform. “On bill payments, most players and biller websites charge a processing or convenience fee on credit cards like us, and this has been the industry norm for a while now.” In case, you are still looking for ways to recharge your mobile number, then you have to look at these steps.
How To Recharge Your Phone Number Via PhonePe
Step 1: Tap on the recharge options under the recharge and pay bills.
Step 2: Write the mobile number you want to recharge. Now, you have to verify the number, circle, and telecom operator details.
Step 3: Now, write the amount or tap on the select option from a list of plans. Then, click on the recharge option to complete the transactions.
