If you also use Paytm to form a digital payment, then this news is vital for you. Paytm will now charge 2% for adding money to the Wallet (Paytm Wallet). Whereas earlier this fee was applicable only within the amount of 10,000 rupees or more.
2% Charge on Adding Money
Until now there was no charge for adding money from a MasterCard to a Paytm wallet. But now the corporation has changed its rules. Paytm Mobile Wallet has started charging 2 percent on the quantity you’ve got added to your wallet employing a MasterCard.
Earlier Paytm Charge 2% on above Rs 10,000
According to Paytm, when the corporation adds money using a credit card, they pay a high charge to your bank, Paytm is charging a nominal fee for the transaction. Earlier in January of 2020, Paytm stated that it would charge 2% when an amount of Rs 10,000 or more would be added to the Paytm wallet using a credit card. Except, for now, any amount added is going to be charged.
What Paytm Recommends?
Paytm also suggests using an open-ended credit card or UPI to feature money in your Paytm wallet, as there’s no charge when adding money to your wallet. Paytm is additionally offering a suggestion during which users can get 2% cashback up to Rs 200 cashback by adding a minimum of Rs 50.
Other Online Payment Apps
PhonePe and Mobikwik are some of the largest competitors in Paytm, which doesn’t charge any amount for any payment option by adding the quantity to the wallet. However, there’ll be no extra charge on payment from Paytm on any merchant site. There will be no charge even when transferring from Paytm to Paytm Wallet. At an equivalent time, there’ll be no charge, albeit if you add money to the Paytm wallet through open-end credit or net banking.