Google Pay to impose convenience fee on bill payments via credit/debit cards
Digital payment platform Google Pay has started imposing a convenience fee on bill payments made with credit and debit cards.
Digital payment platform Google Pay has started imposing a convenience fee on bill payments made with credit and debit cards.
The value of transactions in the same period surged by 44 per cent from Rs 69.36 trillion to Rs 99.68 trillion, according to the report by global payment services leader Worldline.
Clarification came after media reports claimed RBI titled "Discussion Paper on Charges in Payment System" has discussion of service charge on UPI transactions.
Google Pay in collaboration with Pine Labs on Wednesday announced the launch of Tap to Pay for UPI - a functionality that aims to bring the seamless convenience of Tap to Pay to UPI.
Google planned to partner with a variety of financial institutions that would have provided accounts without monthly or overdraft fees and minimum balances.
It will also help scan and pay at more than 1.5 million Bharat QR enabled merchants and pay bills and recharges from within their Google Pay app using their credit card.
While you can still manage payment methods on the web app, peer-to-peer payments will cease to exist.
Facebook has launched a payment system for all its apps - WhatsApp, Instagram, Messenger and Facebook.
Google Pay said that the company had spent around 67 million on monthly active users with an annual gross transaction run-rate of $110 billion.
With its network of over 1.2 crore merchants across the country, Paytm leads the offline retail payments segment, which Google Pay and Walmart-Phonepe are also trying to break into.
