00:00If you also use Google Pay to pay the electricity bill at home, then you are going to get a strong shock.
00:14The app that offers a lot of services by paying bills from UPI has now started to burden customers.
00:21See, everyone has started charging convenience fees for bill payment.
00:26Google Pay is also not lagging behind in this race because Google has also started collecting convenience charges from users.
00:33So let's tell you in detail in this video how much effect Google's decision will have on your pocket.
00:40In fact, according to reports, if you use a credit or debit card for bill payment, then you will be charged from 0.5% to 1%.
00:51In addition to this charge, you will also have to pay GST.
00:54Remember that until now, Google Pay did not charge any extra for bill payments from users.
01:01As of now, Google Pay has not provided any official information about the convenience charge.
01:06Reports also mention that a year ago, Google Pay is charging a convenience fee of Rs. 3 per mobile charge from users.
01:15It has been reported in the report that when a customer used a credit card to pay the electricity bill,
01:21then the app charged a convenience fee of Rs. 15 from the user.
01:25This fee is shown in the app under the name of processing fees for debit or credit card transaction, in which GST is also included.
01:34There is no information about the charge on UPI transaction through Google Pay at the moment.
01:40According to the global service firm PwC, stakeholders have to spend 0.25% in the UPI transaction process.
01:49Now it seems that to cover these expenses, FinTech companies are adopting new revenue models.
01:56UPI transactions are still completely free.
01:59Many times there has been a demand to charge on UPI, but so far it has been kept free by the government.
02:07But all the users of Google Pay will now be shocked because if you are paying on UPI, then you will have to pay a convenience fee.
02:23And as I said, if you use a credit card or debit card for payment, then you will be charged from 0.5% to 1%.
02:35In addition, GST is mentioned apart from this convenience fee, which means that you will have to pay a convenience fee along with GST.
02:46Although no official information has been given by Google Pay yet, but according to reports, this is being claimed.
02:53And all the FinTech companies are giving this fee the name of processing fee or convenience fee.
03:01So what is your opinion on this whole news?
03:03Give us your opinion in the comment box and keep watching Good Returns for such updates.
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