PhonePe has now started Charging a fee on recharge. With this PhonePe has become the first Digital Payment app to charge Processing fees for recharges on PhonePe.
PhonePe is Charging a Processing fee of Rs. 1 for recharges in between Rs. 50 and Rs. 100. Processing Fee of Rs. 2 on recharges above Rs. 100 and there is no Charge on recharges below Rs. 50.
PhonePe Spokesperson Said “On recharges, we are running a very small-scale experiment where a few users are paying for mobile recharges. Recharges below ₹50 are not charged, recharges between ₹50 and ₹100 are charged Rs. 1, and above ₹100 are charged ₹2. Essentially, as a part of the experiment, a majority of users are either not paying anything or paying Rs. 1”.
Introducing these nominal fees on recharges may affect PhonePe and Lose its customers. If it Continues it will benefit its competitors GPay and Paytm.
PhonePe is also Charging Fees on Payments made through Credit / Debit Card. Not only PhonePe even other platforms charge a fee on Bill Payments made through Credit Card and they call it Convenience Fee. But PhonePe to charge on any payments made using Debit / Credit card as Convenience Fee.
PhonePe is leading the UPI App transaction with a massive 47% share and it is one of the largest UPI Transaction app in India overtaking GPay and other UPI Apps.
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