PhonePe to now charge users who keep their wallets inactive

PhonePe will now charge its users who keep their wallets inactive for a year. Users who don't make any financial transactions through the PhonePe Wallet for 365 consecutive days will be charged a 'Wallet Inactivity Maintenance Fee' of ₹100/quarter. The digital payments company has clarified that merely logging into the app or making UPI transactions won't count as wallet activity.