Paying with Paytm will be expensive, if you add money to the wallet, there will be a charge
If you also use Paytm to make digital payments, there is bad news for you. Paytm will now have to pay a charge of 2% on adding money to Paytm Wallet.
New Delhi: There is bad news for you if you also use Paytm to make digital payments. Paytm will now have to pay a charge of 2% on adding money to Paytm Wallet. Earlier, the charge was only Rs 10,000 or more.
Adding money to your wallet with a credit card is expensive
Until now, however, there was no charge for adding a credit card to a Paytm wallet. But now the company has changed the rules. Paytm Mobile Wallet has started charging 2% on the amount added in its wallet using Credit Card. According to Paytm when it adds money using a credit card, it pays your bank a high charge, Paytm is charging a normal charge for the transaction.
Paytm had earlier said in January 2020 that it would charge 2%, while Rs 10,000 or more would be added to Paytm's wallet using a credit card. But now you will be charged for adding any amount.
But you will also get cashback
Paytm recommends using a debit card or UPAI to add money to the Paytm wallet. There is no charge for adding money to the wallet. Paytm is also offering an offer in which users can get 2% cashback up to Rs 200 using a minimum of Rs 50 ad using the credit. PhonePe and MobiKwik are one of Paytm's biggest competitors, with no charge to add an amount to the wallet with any payment option.
However no merchant site has to pay any extra charge than Paytm. There is no charge for transfer to Paytm Wallet via Paytm. On the other hand, there is no charge for adding money to a Paytm wallet with a debit card or net banking.
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