Payment through Google Pay is going to be expensive. Google Pay has announced a facility fee on credit and debit card transactions for payments like electricity, water and gas bills. According to media reports, there will be no fee on payment to be made in bank accounts through UPI. But payments made through other means will be charged.
What will be the fee?
According to the report, Google will charge from 0.5% to 1%, in which GST will be applicable separately. Earlier, the company imposed a facility of Rs 3 on mobile recharge.
Paytm and PhonePe were already taking charge
Google Pay has taken this step at a time when its competitive phonpee and Paytm are already charging the bill payment. Google Pay has a 37% stake in the UPI market in India, making it a prominent player in the digital payment field.
UPI Autope is becoming popular
The report also said that UPI Autope has now left behind the automatic payment to be made through the card. This means that UPI is being given priority for continuous payment.
Increasing role of digital payment
Industry believes that implementing convenience fee in digital transactions is a positive change. It should be our priority to make digital payment accessible and cheaper to all. However, let us tell you that Google Pay has not yet issued any official statement on this new charge.
