Paytm Withdraws Levying 2 Percent fee on Recharging Wallet via Credit Card

Posted on:11 Mar 2017 09:42:59
Paytm Withdraws Levying 2 Percent fee on Recharging Wallet via Credit Card
11 March 2017 Current Affairs: Indian payment and commerce company Paytm has withdrawn the 2 percent fee on adding money to mobile wallets using credit cards on March 10, 2017, just two days after imposing the fees.The Alibaba-backed company had introduced the fee on March 8, 2017 after it came to learn that multiple users are using the platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero Paytmtransaction cost.The decision to remove the 2 percent fees was taken keeping in mind the convenience of its users. It also announced to bring in new features to prevent misuse of its system in the future.

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