PhonePe to levy ₹100 quarterly fee on wallets dormant for 365 days
PhonePe will charge ₹100 per quarter on wallets inactive for 365 consecutive days, after a 15-day notice. UPI and non-wallet transactions won't count toward activity—only a completed wallet transaction resets the clock. Move mirrors MobiKwik and Airtel Payments Bank, signaling industry-wide push to monetize or prune dormant wallet bases.
PhonePe will levy a ₹100 quarterly maintenance fee on wallets inactive for 365 consecutive days, with a 15-day notice grace period. UPI and non-wallet transactions don't count as activity; users must complete a wallet transaction to avoid charges.