PhonePe Started Charging Processing Fee For Mobile Recharge | Pay 2 rupees extra for your Mobile recharge
PhonePe is a Popular recharge application. You can transfer money, recharge your mobile, book tickets, etc. Indian cellular users prefer PhonePe to recharge their mobiles. But now PhonePe Starts levying fees for mobile recharge. PhonePe call it processing fee.
Next time when you recharge your mobile through PhonePe you will be charged a processing fee of Rs 1 to Rs 2 per transaction including GST. The company will be taking processing fee for payments made through credit cards just like its rival Paytm.
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For example, if you recharge Rs.50 on your Jio number, you will be charged Rs.1 per transaction and if you recharge Rs.100 or above on your Jio phone you will be charged Rs.2 per transaction. Below recharge of Rs.50, PhonePe doesn’t charge any fee. These transaction fees are applicable for recharge of any network.
PhonePe is the first digital payments platform that is charging processing fee for UPI-based mobile recharges but currently its competitors such as Paytm and Google Pay doesn’t charge any processing fee from their customers. A spoke person from the company said that this is a part of an experiment, the majority of users do not pay any charge for their UPI transactions or some of the users are paying the charged amount.
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However, to make mobile recharges profitable, PhonePe has also decided to provide guaranteed cashback to customers. A spoke person of the company said that “Users of PhonePe will get assured cashback up to Rs 50 on prepaid recharges. This offer will apply to users after they are completing a minimum of three prepaid recharges which must be above Rs.51.
PhonePe holds the majority market share in terms of UPI transactions. It has more than 300 million active users. In September this Flipkart-owned company was done 165-crore UPI transactions on its platform. PhonePe keeps 40 percent of its market share than its competitors. Now PhonePe Mobile Recharge will be more than the actual recharge amount. Let’s see in the future how other UPI-based mobile recharge platforms adopt this method or skip.
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