PhonePe ringfences inactivity fees to dormant wallet balances; UPI and bank rails untouched
PhonePe clarified that inactivity charges hit only prepaid wallet balances, sparing linked bank accounts and UPI flows. Users receive 15-day advance notice, and reactivation requires just an OTP plus a transaction rather than fresh KYC. Cashback is held separately in a gift-card balance, insulating it from the fee.
PhonePe clarified that wallet inactivity fees apply only to dormant prepaid wallet balances, not to linked bank accounts or UPI transactions. Users get 15-day advance notice; reactivation needs OTP plus a transaction, not full KYC. Cashback sits in separate gift-card balance.