Airtel Payments Bank, Paytm Payments Bank are some examples.Payments banks offer services like accepting deposits up to Rs 1 lakh per individual customer and issuance of ATM/debit cards (not credit cards). Airtel Payments Bank is offering interest of 7.25 per cent per annum, whereas Paytm Payments Bank offers 4 per cent a year.Services offered by payments bank are not free. Even the government has its own app called BHIM.As per Cashlessindia.gov.in, a website managed by the government to educate people about digital transactions, there is no charge for making payments using the UPI facility. One is the annual fees that a bank charges for issuing it to the customer. Credit cards come with annual fees, renewal fees and convenience fees.

Source: Economic Times November 07, 2017 07:52 UTC