SBI to collect fees on UPI payments over Rs 2,000
What happened
- SBI will start charging a fee on UPI payments above Rs 2,000 from October 15.
- The bank expects to generate revenue from these fees as an issuing and acquiring bank.
- The bank is evaluating how transaction splitting might affect its systems.
Key terms explained
Financial terms from this story, in everyday words.
- UPI
- A system that allows instant money transfers between bank accounts using mobile phones.
Original source
The Economic Times
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