Earlier, Google Pay partnered with NPCI to launch UPI Circle. This feature allows users to add family members and friends as secondary users.
UPI or Unified Payments Interface has become quite popular these days. From booking flight tickets to making small purchases from a street vendor, we are using this mode more than anything else. Moreover, people are now using UPI to make their bill payments and renew their policies. But there is an important update for those using Google Pay- one of India’s dominant digital payment platforms.
Google Pay, which is the second-largest player after Walmart-backed PhonePe, has introduced a new convenience fee for bill payment. GPay, which has a 37 per cent share of UPI transactions, will charge a convenience fee on bill payments made with credit and debit cards. According to a report by the Economic Times, Google Pay is charging its users for services which were completely free earlier.
Reports said that Google Pay will levy a fee ranging from 0.5 per cent to 1 per cent of the transaction amount. Also, GST will apply to this. However, there is no official statement regarding the convenience fee of Google Pay.
This is not the first time Google Pay has imposed such fees. Earlier, it levied a convenience fee of Rs 3 for mobile recharges. This is not the only platform to levy such fees for payments. PhonePe, the largest player in the segment, charges a convenience fee for on payment of bills through credit or debit cards. Paytm too charges anything between Rs 1 to Rs 140 for recharges through UPI and bill payments.
Google Pay on Friday introduced UPI Circle, a feature allowing users to add family members and friends as secondary users, to make digital payments without linking their bank account.
During the three-day Global Fintech Fest (GFF) 2024 held in Mumbai, Google Pay made a slew of announcements about its new features, including UPI Circle.
Google Pay UPI Circle
Earlier, Google Pay partnered with NPCI for UPI Circle, a feature allowing users to add family members and friends as secondary users, to make digital payments without linking their bank account.