Payments Basic

In the IMPS Fund Transfer system, you can send money to a person on the basis of his/her mobile number and MMID. The Mobile number and MMID can be used in the place of Account number and IFSC code. The MMID  is a seven digit number of which the first four digits are the unique […]

This post of upipayments.co.in tells you what a payment gateway is and how it works. You would also learn about the main features of the payment gateways. I would also answer some of your important questions. What is a Payment Gateway A payment gateway is an application used for the online payments. It facilitates and […]

SBI (State bank of India) gives the fund transfer facility through IMPS, NEFT and RTGS. SBI charges differently for these services. Even you are not required to pay any charge in some cases. Each fund transfer mode has some benefits. So on the basis of charges, we can’t say that a particular fund transfer platform […]

Recently, SBI has reduced the ATM withdrawal Limit. From 31 October 2018, you would be able to withdraw only ₹20,000 in a day from the ATM. Earlier, you could withdraw up to ₹40,000 in a day. This would be the least withdrawal limit among top banks of India. Even the Government banks such as PNB and […]

This question bothers most IMPS users that how much can money can they transfer in one go with IMPS. What are the IMPS limits in SBI, ICICI Bank, HDFC Bank or other banks? Unlike NEFT, NPCI does have a limit on IMPS transactions. And here, I am going to tell you all about the IMPS […]

The SBI has reduced the charges for IMPS fund transfer but other banks are still charging the high fees. Bank of Baroda is the only bank which does not charge for IMPS fund transfer. In this post, I have told the IMPS charges of 7 banks. I have covered only the big government and Private […]

On 6th June 2019, The RBI has waived its charges from NEFT and RTGS. It has also said that banks have to pass on this benefit to the customers. Thus banks would charge less for the NEFT and RTGS charges. Till now RBI was also charging a fee for providing this system to the banks. […]

Like UPI and IMPS, NEFT is a fund transfer system. Recently this system has also become almost free. This is not an instant payment method, however, It is fast enough. This system is managed by the RBI and almost every big bank participates in this system. Full Form and Meaning of NEFT The full form […]

The government has given further push to the digital transaction in India. It has decided to bear the cost of Merchant Discount rate (MDR) of the debit card payments. Thus, merchant would not be required to pay any transaction fees to the bank. Rather, the government will pay to the banks. Government Waives MDR Charge […]

The debit card payment would become cheaper. The RBI has reduced the merchant discount rate for Debit card transactions. It has also changed the way of charging the MDR. Now there is a new structure for the debit card charges. The new rates for these transactions are applicable since January 1, 2018. [P. S. – Meanwhile […]