As of 1 April 2023, an additional interchange fee of 1.1 % will apply to transactions made by merchants (the person or company receiving the payment) using prepaid payment instruments (PPIs) – wallets or cards.
An interchange fee is the fee that the receiver bank or payment service provider charges the merchant.
In simple terms, the charge will happen if a customer has a wallet from one company and pays a merchant who has a wallet from another company.
However, there are no fees for normal customer transactions or UPI payments from the bank account to the bank account.
It will always either on customer or merchant . The platform providers like mendix , wordpress , etc has no role to play