MD. sonu

$ICICI Bank is likely to charge payment aggregators (PAs) for UPI transactions starting August 1 - Reports

This development was first reported by The Head And Tale! According to people familiar with the matter, ICICI Bank will ask PAs to pay a 'transaction handling fee' for every UPI transaction processed through the bank!

Aggregators with an escrow account in ICICI Bank will pay 2 basis points per transaction (max ₹6), while those without will be charged 4 basis points (max ₹10). No charges apply if transactions settle directly into a merchant's ICICI Bank account. This change aligns with similar moves by Yes Bank and Axis Bank, aiming to cover banks UPI infrastructure costs.

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