ICICI Bank to start charging Google Pay, PhonePe for UPI transactions from…
ICICI Bank has introduced a new fee structure for payment aggregators (PAs) processing Unified Payments Interface (UPI) transactions on merchant platforms. The change, effective from August 1, will impact platforms such as Google Pay, PhonePe, Mobikwik, and Razorpay.
New Fee Structure for Payment Aggregators
Payment aggregators act as intermediaries between banks and merchants, handling the collection and settlement of payments.
