Paytm refutes reports of charging extra for digital payments

One of India’s leading e-commerce platform Paytm refuted the media reports,  that it is going to charge users an extra amount for digital transactions on its platform.

Paytm

“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 said in a statement.

The company said Paytm customers will continue using all the services available on the platform without any fee.

A few days back an English daily had reported that Paytm will charge 1 percent on payments via credit cards, 0.9 percent for debit cards and up to Rs 12-15 through net banking and UPI-based methods from July 1.

According to Noida-headquartered company, Paytm, there have been few merchants like educational institutes or utility service providers who do not absorb credit card charges and expect customers to pay the same.

“In such cases, we recommend our users to pay through their debit cards and UPI to avoid these charges. We would like to reiterate that these charges aren’t levied by Paytm in any scenario,” said the company, further adding that it does not have any plans to levy any such fee in the future.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 8th NBFC100 Tech Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.