Mobile wallet transactions to cost more from April 1

The payments done via wallets on Unified Payments Interface (UPI) are likely to cost more to the consumers as National Payments Corporation of India (NPCI) has recommended an interchange fee of up to 1.1 per cent on UPI transactions of over Rs 2,000 made through Prepaid Payment Instruments (PPIs).The fee is likely to impact users who will make payments to merchants on the UPI via wallets.