Dev Vachan

[Dev Vachan @devvachanb10]

@pythonanywhere Still not resolved .@pythonanywhere

[Rachana Ranade @rachana_ranade]

There has been a lot of confusion around the charges that will be levied on #UPI payments. 🧐
Let us clear the air.

Let's consider these 3 scenarios:

Scenario 1: Me to my friend (P2P)
UPI payment of any amount through bank account / PPI wallet*: No charges for me and my friend

Scenario 2: Me to merchant / shop keeper (P2M)
UPI payment of any amount through bank account: No charge to me and shopkeeper

Scenario 3: Me to merchant / shop keeper (P2M)
UPI payment above INR 2,000 through PPI wallet: No charge to me but up-to 1.1% charge to the merchant / shopkeeper.

➡️ Summarising the same:
NPCI has clarified that customers do NOT have to pay any charge in any case.

It is the merchant who will be levied a charge up-to 1.1% of transaction value (on transactions over INR 2,000, for using the infrastructure of the wallet issuing company) (Ex: Paytm, Phonepe)

It is important to note that charge will be levied to merchant only on interoperable** PPI wallet transactions and not on bank-to-bank transactions via UPI

Basically, the ecosystem needs revenue to be running and it is very similar to the credit card ecosystem, where the merchant is levied a charge (~2%) on a payment using a credit card and the participants in the transaction viz. the paying and the receiving banks and the credit card issuing company gets revenue for providing their services.

* Examples of PPI (Prepaid Payment Instruments) can be gift cards, online wallets etc.
** Interoperable PPI wallet means wallet where users can seamlessly transfer funds from one wallet to another (of another issuer) and from their wallets to bank accounts through the UPI platform.

Let me know your views in the comments!

[Rahul Gandhi & Priyanka Gandhi Vadra - Wayanad @RGPGVWayanad]

The beautiful ‘Pooppoli 2023’ the international flower show, is in full bloom in Wayanad. The idea blossomed in 2014 and over the years, it has become the pride of #OurWayanad.

It’s worth a visit!

[Jegathesan Durairaj (Jegan) @itjegan]

Someday, everything will make perfect sense. So for now, laugh at the confusion, smile through the tears, be strong and keep reminding your self that everything happens for a reason.--John Mayer

Happy Morning!!

[Kieron Pollard @KieronPollard55]

💙 #OneFamily @mipaltan

[Dev Vachan @devvachanb10]

@KieronPollard55 @mipaltan ❤️

[B Padmanaban ([email protected]) @padhucfp]

Why does India have 4 Funds Transfer Systems...

[Amit Mishra @MishiAmit]

The bond between these two is beyond perfection. Fans should understand this. #IndvsAus

[Philosophy Of Life @PhilOfLife_]

Keep it private until you know it's permanent.

[B Padmanaban ([email protected]) @padhucfp]

Some Interesting Stuff...

[Ruchira Chaturvedi @RuchiraC]

GST on horse-trading? 🤭🤭😆😆

[Dev Vachan @devvachanb10]

@SEBI_India @tejaskhoday @fyers1

[Rahul Gandhi @RahulGandhi]

राजस्थान का Health Model, देश में सबसे best है।

भारत में सबसे ज़्यादा, ₹10 लाख तक का स्वास्थ्य बीमा और ₹5 लाख तक का एक्सीडेंट कवर। OPDs और IPDs में टेस्ट और इलाज मुफ्त।

हमारा लक्ष्य है कि देश के हर नागरिक को ये सुविधाएं मिलें।

कांग्रेस सिर्फ़ वादा नहीं करती, वादा निभाती है।

[Lasith Malinga @malinga_ninety9]

@mipaltan has always been a team of comebacks. Whether or not they get through to the playoffs this year, expect them to have a strong finish to the season💙
Their core group of players and the support staff definitely have the quality to pull them back💪

#Mumbaiindians

[Dev Vachan @devvachanb10]

@ninety9sl @mipaltan ❤️

[Press Trust of India @PTI_News]

Petrol, diesel prices hiked by 80 paise a litre each, the 10th increase in 12 days, taking total hike to Rs 7.20 a litre

[Anshuman Sail Nehru @AnshumanSail]

Congress led Chhatisgarh Govt. have constructed 171 Govt English medium schools with all the modern facilities in just 2 years.

These govt. schools are equipped with Modern Labs, library, Playground, Computer rooms and smart classes. Take this to every Indian.

[Dev Vachan @devvachanb10]

@fyers1 When will you launch nest trading terminal.?

[Vida @VidaMaverick]

Cash in hand...😂😂😂