Digital transactions have increased rapidly in India, and along with it, the operational costs of banks and fintech companies have also risen. While free services were initially offered to attract customers, companies are now moving towards adopting sustainable models. This is why charges are being increased on ATMs, credit cards, wallets, and branch services. The coming year could prove expensive for banking users.
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ICICI Bank’s New Charges, Impact on Credit Card Users
ICICI Bank has announced changes to its service charge policy, implementing new rules from January 2026. Now, if a customer makes a payment on an online gaming platform using their credit card, they will have to pay an additional fee on the transaction amount. In addition, loading large amounts into third-party digital wallets will also incur a separate fee. The facility to pay bills with cash at bank branches has also become more expensive. This will have a greater impact on customers who still rely on offline services.
New Conditions for Entertainment Offers and Reward Systems
Entertainment benefits on credit cards will also no longer be as easy to access. Offers like movie tickets are being limited, and a minimum spending requirement has been set. Premium card users will also have to spend a fixed amount every month to earn reward points. This means that the benefits may decrease for customers who spend less.
Airtel Payment Bank’s Big Decision
Airtel Payment Bank has decided to implement an annual maintenance charge for users associated with its digital wallet. Even if the wallet balance is low, this amount will be deducted automatically later. This move shows that digital wallet companies are now moving away from the free model and towards sustainable revenue generation.
The Changing Landscape of the Digital Wallet Industry
Digital wallets in India started with free services, but over time, companies began adding various charges. Initially, fees were levied on inactive accounts, then fees increased for KYC and card loading. Now, maintenance charges are the next step in this evolution. The cost of digital payments is now being passed directly on to the consumer.
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A New Identity for Rural Banks
While urban customers are facing increased pressure from fees, the government has taken a positive step to strengthen rural banking. A uniform identity and logo have been implemented for all regional rural banks in the country. This initiative is considered crucial in improving trust, uniformity, and banking access in rural areas.