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Why is a surcharge of 2% (for ICICI Payment gateway) and 1.0% (for UBI Payment Gateway) charged on credit card payment?

QuestionsCategory: Company LawWhy is a surcharge of 2% (for ICICI Payment gateway) and 1.0% (for UBI Payment Gateway) charged on credit card payment?
anamikashah Staff asked 1 year ago

Why is a surcharge of 2% (for ICICI Payment gateway) and 1.0% (for UBI Payment Gateway) charged on credit card payment?

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1 Answers
Lavish Dey Staff answered 1 year ago

As per the Credit card Terms and conditions, User/ Compliance seeker will have to pay a convenience fee charge of 2% (for ICICI Payment gateway) and 1.0% (for UBI Payment Gateway). These rates are shared by ICICI Bank/ UBI and your credit card Issuing Bank, against Payment gateway application upkeep and other costs. MCA doesn’t get this money.

You may use the Net banking/ NEFT option where no additional charge is levied. Alternatively, you may also use the Challan payment option to save the 2%/ 1.0% charge.

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