Paytm would charge 2% for loading Paytm Wallet through Credit Card from July 2019

[Sushubh]

w.e.f. 4th July 2019

is now mentioned on the charges details page. so would have to check on 4th.

 

[Sushubh]

Paytm Payments Bank

www.paytmbank.com

 

[raj2007]

They have increased from 4% to 5% for transferring from wallet to bank.
Won't they be benefited from that money?
For classic customers(who frequently transfer from wallet to bank) from now on will be charged(credit card users) 2% + 5% = 7%
Even with that percentage they will not be satisfied. Why is that?

 

[webie]

Well, that's what they want, to discourage taking the money out of their network. They have sucked in MDR costs for so long and I welcome this decision of their's. As long as they keep MDR costs nill for normal customers who actually use Paytm network to pay merchants , recharge, bill pay, and other services within Paytm, I am happy!

Please don't say if paytm is benefiting , as if you are asking if they are being fair. They have been more than fair, as from so long they have been paying the banks MDR. If you ever owned a business and accept credit cards, you will understand MDR is a pain every merchant has to bear. No one likes that.

Understand, at the end of the day, PayTM is a business. They are in for profits dude.

 

[Navjot Singh]

Now, Paytm users have to pay 2% charge on using credit cards to top up wallets

This is fresh news so I guess it wasn't implemented last year?

Until now, users had to pay 2 per cent fee if they loaded more than ₹10,000 in their e-wallets via credit card in a month.

Paytm is also providing an offer, wherein users will get 2 per cent cashback up to ₹200 on adding minimum ₹50 using a credit card, as per the message.

The spokesperson further said the company has temporarily waived the 5 per cent charge that is levied on money transfer from wallet to bank accounts as a promotional offer for the festive season.

 

[mhsabir]

I guess the limit starts from the 1st rupee now instead of 10000?

 

[Rehan Kumar]

I am being charged 2% while loading to Paytm wallet using credit card, so essentially by loading upto rs 10000, I will receive the charged amount as cashback.
I guess they are crediting cashback as they are transitioning, they will most probably reduce the cashback before removing it completely.

 

[Jonas]

I've limited my usage of Paytm to a great extent. I mean, why should I use Paytm wallet at all? What's the benefit to it..

 

[Sushubh]

no chutta problem?

 

[Jonas]

Majority of the merchants also use PhonePe and they prefer money being sent to their accounts directly, I think.