India, April 30 -- In an effort to drive the adoption of credit on the Unified Payment Interface (UPI), the National Payments Corporation of India (NPCI) is exploring an interchange fee structure lower than that for a credit card transaction.

As per Business Standard's report, citing sources, these charges could range between 1% and 1.2% per transaction. Currently, the credit card transaction interchange fee is charged at 1.8%- 2%.

It is pertinent to note that at present there is no defined interchange fee for credit lines on UPI by NPCI.

Meanwhile, fintechs have aligned with the thought that the fee should be less than this amount.

On this, Kiwi's chief business officer Mohit Bedi said, "The interchange fee basically varies by the me...