Want to Know about charges on UPI Rupay Credit card transaction
- Thread starter alishasyed
- Start date
Gigachad
KF Mentor
Depends on MCC.
Maybe they have fual mcc
17ysaurabh
KF Mentor
Did you exceed your credit card limit?
What kind of merchant payment was this?
alishasyed
KF Rookie
Credit limit not exceeded and I just bought plywood for my home interior works that was the payment to that merchant
Was the Merchant based in India or Outside India? Also was the payment made online or on POS Machine?
alishasyed
KF Rookie
In India only and mode of payment through QR scan only
Strange. This rules out the possibility of this being Currency Conversion Charges or MDR (usually applicable on POS machines).
Will have to dig a little deeper on this
anuragmukherjee28
Moderator
The charges could be -
1) 1.1% fees is charged when UPI Rupay Credit card transaction is done , and when the amount is more than 2000 and its born by the merchant. (
2) Transaction processing fee - Payments accepted through RuPay credit cards over UPI may attract a processing fee which includes applicable taxes. This processing fee will be deducted from the settlement amount and it varies from seller to seller and from transactions to transaction
these 2 might be the reason for the transaction deduction
1) 1.1% fees is charged when UPI Rupay Credit card transaction is done , and when the amount is more than 2000 and its born by the merchant. (
2) Transaction processing fee - Payments accepted through RuPay credit cards over UPI may attract a processing fee which includes applicable taxes. This processing fee will be deducted from the settlement amount and it varies from seller to seller and from transactions to transaction
these 2 might be the reason for the transaction deduction
Chances of it being 1.1% fees for UPI credit card is low, as these charges are not supposed to be borne by customers (merchants pay for this). Additionally @alishasyed has been charged 1.90% + GST for this transaction.
Skylar
KF Master
Which bank?
zacobite
KF Mentor
above 2000 they charge extra.. upto 2% or more.. basis merchant.. UPI is good only for low value.. high value always use normal CC
Skylar
KF Master
is it 1.99% GST on amount above 2000?
Ayan37
KF Ace
Yes if below 2000 no charge but if above 2000 then 1.99% + GST will be charged. If one thinks to do multiple transactions of 2000 then the total will be charged if payment is made from one card.
Skylar
KF Master
Thats a problem for merchants. I should avoid UPI transactions with rupay cards for local vendors then and use it in only big malls
and what is the charge if they swipe the card?
zacobite
KF Mentor
its the opposite.. use only at small places for low value.. high value use your normal cards..
Aadi Yogi
KF Ace
Yes This is true that transaction charges are there in upi because when u make upi transaction using prepaid payment methods such as paytm, phone pay these fees covers the cost of processing accepting and authorization transaction as well as the maintenance of banking infrastructure this fee is usually about 0.5% to 1.1% transaction amount it comes under [ NPCI ] announced that 1.1 % charged on upi transaction over rs 2000.
muzammilsheikh
KF Ace
Bharat pay merchant QR code also charge 2%+GST even if transaction is inder 2000. It's depens on transaction, MDR charges aplicable for every transaction above 2000.
