PhonePe users to pay extra charges on using credit cards to top up wallets

You use PhonePe Wallet to buy goods from grocery stores, pay water and electricity bills, book gas cylinders, recharge mobiles and DTH, or order online. Many users make small transactions by depositing money in a credit card phone phone wallet. Now there is bad news for PhonePe wallet users. Meanwhile, using PhonePe has become more expensive. According to the information provided on the PhonePe app, users will now have to pay an additional fee of 2.06 per cent (inclusive of GST) if they add money to their PhonePe wallet from a credit card.

The sale of life insurance and general insurance products has been approved in principle by the IRDA, PhonePe said recently. Also, the company could now offer insurance-related advice to its more than 30 crore users, it said. Meanwhile, the IRDA has issued an insurance broking license to PhonePe. PhonePe can now sell insurance products to all insurance companies in India.