New Delhi: Paytm users will have to pay a 2 percent fee on the amount added to their e-wallet with a credit card.
Until now, users had to pay a 2% fee if they charged more than ₹10,000 in your e-wallets via credit card in a month.
A message that says “A nominal fee of 2% applies when adding money with a credit card. A nominal fee applies, as we pay high fees to your bank / payment network when you add money with a credit card. Use UPI or debit card to add free money “is displayed when customers try to add money to their Paytm wallet through a credit card.
Paytm also offers an offer, in which users will get a 2% refund up to ₹200 when adding minimum ₹50 by credit card, according to the message.
When contacted, a Paytm Payments Bank spokesperson said customers have the flexibility to add money to their Paytm wallet from any of their preferred funding sources, including UPI, net banking, and cards.
“Banks and credit card companies charge a fee to load money into the Paytm wallet from any of these sources. The 2 percent charge is passed on to customers, who use credit cards to add funds to their wallet. For all other sources, we will continue to absorb the cost of loading money, “the spokesperson said.
The spokesperson further said that the company has temporarily waived the 5 percent charge that applies to transferring money from wallet to bank accounts as a promotional offer for the holiday season.
“The amount added in the wallet can be used to transfer money to another wallet or bank account, to make payments to online and offline merchants via QR codes, to process bill payments, to top up and many other ways to All these transactions will also remain free for our customers, “said the spokesperson.
In 2017, Paytm had introduced a similar fee on amounts added to the wallet using credit cards, but had reversed the decision after pressure from users.
At the time, Paytm had said that the fee was intended to curb misuse of its platform to transfer funds from interest-free credit cards to user bank accounts at no transaction cost.
This story was published from a news agency feed with no changes to the text. Only the title has been changed.
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