PAYTM CHARGE 2 PERCENT FEE | 2020

 PAYTM CHARGE 2 PERCENT FEE 

Shocking news for Paytm users. Market sources said that from now on, a two percent fee will be charged on money added to Paytm Wallet via credit card. Until now, fees have been charged for transferring Rs 10,000 or more on this digital payment platform. No official statement has been released so far from Paytm on the matter. 

An online media company has revealed details about the new changes. Paytm says banks themselves are paying higher fees on credit card transactions. The company said in a statement that it had introduced a nominal fee to cover the shortfall.

Some customers are paying for loopholes in the services offered by Paytm. Benefit by adding money to Paytm Wallet (via Indirect and Longer Method) through the 40 Days Interest-Free Period Scheme offered by credit cards. Experts say new rules are being put in place to prevent this. At present, there is no charge for adding money to Paytm Wallet through debit cards or UPI.

Interestingly, Paytm also offers cashback of up to Rs 200 on credit card transfers of Rs 50 and above through Paytm wallet. PhonePay and MobiQuick wallet companies, which are competitors to Paytm, do not charge any fees. These companies are vying for the top spot in this segment.