Paytm has added a 2% fee on funds added to wallet using credit card (CANCELED!)

Sushubh

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well. i don't know how safe it is but it sure is convenient. you generate an id like [email protected] you give this id to the retailer, in this case Paytm. they would generate a request. the request would appear in your app (PhonePe for @ybl). you can then approve or reject the payment from the app itself. it seems to be better as no secure number (credit card number for example) is shared with retailer or payment gateway. no password is typed in the computer. everything happens in your hands on your phone. and your upi id is just like an email id. nothing private about it. and you can change it anytime you want.
 

pujaari

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Oh yes good idea didnt check the full text..wait will just chk the txt i got for otp
OTP is 233968 for txn of INR 999.61 at ONE97 COMMU-Paytm on card ending 0750. Valid till 10:14:22. Do not share OTP for security reasons.

So they charged me 999.61 for adding 980
 

Sushubh

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so what exactly do you get as coupon for extra rs. 20 charged? i am still not clear. what can this coupon be used for? for shopping on paytmmall?
 

pujaari

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Thanks will activate the upi option but this directly debits the amount from my account right?
I used to get points for using my cc for adding money on Paytm..but think this is much better and convenient

Think it gets added back to your paytm balance am assuming..havent recieved any as yet

"You will be charged Rs. 1020.01 including Credit Card Fee of Rs. 20.01. We will send Gift Card of Rs. 20.01 within 24 hrs for your next purchase on Paytm. Adding money by Debit Card & Net Banking has no fee."

It states the above on the screen of paytm app when i try to add 1000 under add money option
 

Sushubh

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yes. money is deducted straight from bank account. so you get no benefits that you get from credit card transactions which is what they are trying to stop :p i mean if mastercard considers Paytm as a telecom merchant, i am supposed to get 5% cashback. though i am guessing they removed paytm long time ago. they have been more than a billing service provider for years now.

that's the thing. they say gift card. not cashback that would be added to wallet. that's what i want to know. what gift cards? what can they be used for? if they can be added to wallet, what difference does the entire change makes?
 

pujaari

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Oh yes thats a good point you make. I remember gifting a paytmgift card ro one of my friends on his birthday. Think he got a code in the mailer with the card.think must be a promocode that tops up balance.gosh seriuosly this is getting way too cumbersome.
Also just realised i added funds using my netsafe card as debit card and still they charged me extra!!..gosh..haha..this is getting complex
 


Sushubh

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yup. just use upi from now on. they now show it as the top option inside the app and on the web too i believe. you miss out on the free credit and points but it's simpler to use. i guess Paytm realize this and they are going to save a lot of money in the process lol.
 

pujaari

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Thanks. Will do that..
Ok so just got a mailer and txt with gift card.You have received a Digital Gift Card of Rs. 20 against your Add Money transaction on Paytm . Promocode: xxxxxxxxxx Visit Payments, Wallet & Recharge - Android Apps on Google Play now #PaytmKaro

How To Redeem
1. Visit www.paytm.com or download Paytm app
2. Enter the Gift code during any transaction
3. Cashback will get credited immediately on successful transaction
 

Sushubh

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so you can use it for recharges and topups? i suppose that is not a bad option.

as long as it is not restricted for use on Paytm mall :D
 

pujaari

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Ok so another issue now..gosh thia is getting indane..lol
I have my bses electricity bill to pay so for that i have this bses200 promocode that is offers me 20 rupees in the app.niw where do i enter my gift card code??.. hahah..i hv given up now haha