PhonePe to charge ₹100 quarterly fee on wallet balances dormant over a year
PhonePe will levy a ₹100 quarterly Wallet Inactivity Maintenance Fee on prepaid wallets unused for over 12 months, debited only from wallet balance. UPI-linked bank accounts are unaffected. The move signals digital payment players hunting for revenue streams beyond thin payment-processing margins.
PhonePe will levy a ₹100 quarterly Wallet Inactivity Maintenance Fee on prepaid wallets dormant over a year, debited from wallet balance only. UPI-linked bank accounts unaffected. Signals digital payment players seeking revenue beyond thin payment-processing margins.
Why this matters
PhonePe joins Airtel and MobiKwik in monetizing dormant wallets, even as it slipped marginally in May UPI share. The fee reflects payment players' hunt for non-transaction revenue amid tight margins.
Retail-company signals steady at 3,284 over the last 90 days.