Paytm in its blog said that some of its dealers like educational institutes or utility service providers which charge a small fee on credit card usage and do not bear that by themselves.
Paytm, the Digital payment company has refused about a report of charging transaction and convenience fees on its platform after a report published in media saying that Paytm will becharging transaction fees. In a tweet, Paytm cleared by saying that as of now, it does not levy any charges from its customers on any payment method including cards, UPI and wallet. Vijay Shekhar Sharma, Founder of this company said, “Paytm customers can continue using all services availableon our platform without any fee” in his official blog.
It also explained how customers can avoid the levycharges by some merchants imposed on them.Paytm in its blog said that some of its dealers like educational institutes or utility service providers which charge a small fee on credit card usage and do not bear that themselves.
“In such cases, we recommend our users to pay through their debit cards and UPI to avoid these charges, “In such cases, we recommend our users to pay through their debit cardsand UPI to avoid these charges,” Paytm said, including the company does not plan to charge consumers in the future either.
Despite, some of the customers have grieved on Twitter and shared a screenshot of convenience fees charged on a few transactions, whereas some more tweeted that 4-5%charges are being levied on adding money from Paytm wallet.
In this regard, the company on its Financial Express Online told that these charges aren’t levied by Paytm in any situation.
Earlier today, The Economic Times reported that Paytm will now start passing on Merchant Discount Rate to consumers as banks and card companies charge the same on digital transactions.
As per the report, this will help the company in reducing the burn rate and make it more profitable. India’s largest payment gateway, The Alibaba-backed digital payment company has almost half of the share in the market. As per its official blog, it processes over 400 million transactions every month; almost five-fold of the next bigger player in the market.
IRCTC, Uber, Zomato, Oyo, Grofers, Big Basket, PVR, Club Factory, Dominos, JIO and Idea are some of the online players who are using Paytm platform.Share this to your,