Shell out fee on paytm transactions from today

Shell out fee on paytm transactions from today

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Deal Cadet
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https://m.economictimes.com/industry/banking/fi...

Starting today, using Paytm will get a little dearer. It will start
passing on the Merchant Discount Rate (MDR) that banks and card companies charge for digital transactions to consumers to help reduce the burn rate at the Noida company and turn profitable, said two people familiar with the development.

The charge amounts to 1% on payments through credit cards, 0.9% for debit cards and up to Rs 12-15 for transactions by net banking and the Unified Payments Interface (UPI), one of the sources said. Paytm, backed by SoftBank and the Alibaba Groupand a leader in the segment, has been absorbing the charge and hasn’t been charging anything extra for payments made through its platform.

4 Comments  |  
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Deal Lieutenant
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UPI charges kuch jada nhi le raha he paytm. smile

UPI MDR charges Rs0.10 to Rs0.25 ha under Rs1000 transaction & above Rs1000 transaction par Rs0.25 to max Rs0.65

Glitterimagescartoons55
Deal Cadet
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so they will charge 10 rs for credit card loading/payment of 1000 rs
makes sense for credit card but charges even for netbanking?
seems a bad move.
from now on have to use bank accounts for bill payments

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“We would like to clarify that Paytm app/payment gateway owned by One97 Communications Limited does not charge or levy any convenience/transaction fee from our customers on using any payment method which includes cards, UPI, net-banking and wallet.

“Paytm customers will continue using all the services available on the platform without any fee,” the Noida-headquartered company said in a statement.

Read more at:
//economictimes.indiatimes.com/articleshow/70020745.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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