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Paytm discontinued Lounge Access in January 2020

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Finance Ninja
abhishek012

Paytm discontinued Lounge Access in January 2020:

https://cdn0.desidime.com/attachments/photos/599679/medium/6343933We4Cv2o.png?1577194262

PayTM Payments Bank will, however, discontinue this free lounge access facility as of January 9, 2020, as per a flash that is going up on PayTM Payments Bank website.

This is not something that RuPay is stopping to offer, so if you have a RuPay Platinum Debit Card issued by any other bank, you should still be able to access lounges with the RuPay Debit Card, just not with PayTM Bank.

While this is most unfortunate for users, Lounge Access is an expensive feature to offer, with the minimums being INR 400-500 at low-end lounges as bill footed by the Bank, and it would have run dry PayTM Payments Bank a lot of money for those who opened zero balance accounts and used the lounge access features. On the flip side, I do hope the rush in many lounges goes down as well.

What do you make of the move from PayTM Payments Bank to discontinue Lounge Access? Were you using the Lounge Access feature regularly?

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Finance Ninja Finance Ninja
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Note – if you have a RuPay Platinum Debit Card issued by any other bank, you should still be able to access lounges with the RuPay Debit Card, just not with PayTM Bank.

Cool Cool
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@abhishek012 currently which card providing launge access and easy to get the card with lowest charges.

Finance Ninja Finance Ninja
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All other RuPay Platinum Debit Card issuer banks.

HDFC bank, Axis bank, Yesbank, Federal bank & other PSU banks easily issue RuPay Platinum Debit Cards.

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Deal Lieutenant Deal Lieutenant
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i hope now crowd will be very less.. smile

Helpful Helpful
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Many lounges were already not accepting Paytm Rupay Platinum DC (eg. T1 – Delhi), one more reason to close the card in addition to recent annual fee hike.

Finance Ninja Finance Ninja
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Lounge Access is an expensive feature to offer, with the minimums being INR 400-500 at low-end lounges as bill footed by the Bank, and it would have run dry PayTM Payments Bank a lot of money for those who opened zero balance accounts and used the lounge access features.

Deal Cadet Deal Cadet
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Now they have stopped other banks rupay platinum card from 1january 2020…. my hdfc rupay platinum card was denied at terminal 2 recently.at delhi.. pls any1 else faced similar situation??? And kindly update what all cards r working at terminal 1& 2 delhi …

Finance Ninja Finance Ninja
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offer valid on first come first serve basis.

maybe maximum HDFC RuPay platinum debit card users used Lounge Access.

try any other bank RuPay platinum debit card.

HDFC RuPay platinum debit card Lounge Access soon reset.

Note - Dnt misuse RuPay platinum debit card Lounge Access offer, also frequently use your RuPay platinum debit card on all your financial transaction, otherwise bank will discontinued Lounge Access offer or maybe block for some time Specific customers for Lounge Access.

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Super Stud Super Stud
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time to surrender card.

How can i surrender paytm card?

I used paytm physical card thrice just for lounge
Is there any more benefit for paytm physical card?

Finance Ninja Finance Ninja
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block your card from Paytm app.

now visit any Paytm kyc senter, re-verify your kyc & generate new Virtual Paytm Rupay card.

Virtual Paytm Rupay card is FREE.

Super Stud Super Stud
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did you re-verify for digital card why?

Super Stud Super Stud
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Who all are surrendering there card after increase in yearly charge and no lounge access.
In there any chance they will relaunch this offer or any offer only usable by physical card?

Helpful Helpful
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I dont think there are any chances of that happening.

Helpful Helpful
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This will be done by all banks eventually
Rupay charges lowest MDR to merchants
Where is the money for lounge gonna come from?
Banks eventually need to bear cost of lounge access which is around 750 per lounge visit for them, i know this as one of my relatives works in a bank at cxx level. They pay the lounges on an average 750 per visit and more for international and exclusive lounges

Finance Ninja Finance Ninja
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MDR charges are same for all merchants.

only banks pay lowest MDR to NPCI.

RuPay promoters banks pay 0.3% MDR upto Rs150 per transaction to NPCI & RuPay issuer banks pay 0.6% upto Rs150 per transaction to NPCI and 0.5% through Bharat QR payment.

Visa/Master debit card MDR charges approx 0.9% upto Rs1000 per transaction.

RuPay recently launch RuPay ‘select’ debit cards & Lounge Access facility also available on RuPay ‘select’ debit cards too.

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Deal Cadet Deal Cadet
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