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

Did they announce gift voucher this afternoon, or was it there since news of 2% was announced?

it was there when i read the blog post first.

We are suspending 2% charge on credit cards for adding money to wallet keeping users’ convenience in mind

bwahahahahaha. mobikwik was offering 2% extra on money added to their wallet. looks like Paytm has realized that they (no longer?) have the position to dictate terms.

Haha! Brilliant! Thanks

I didnt know that people were abusing the system like this. TIL

So Paytm had to bend due to market pressure. Its good that did removed those 2% charges, else everybody would have started charging it eventually as it happens in some small local shops. In my area many (if not all) small shops charge 2% extra for credit card payment.
But points raised by PayTM are also valid. Customers enjoy benefits from Credit card's loyalty points. E.g. I filled Petrol of Rs 1000 last month from Citibank's credit card points. I got Re 1 worth Petrol for 1 point. It really proves beneficial spending on Credit card for such points. Though I am aware that Bank do charge some interest at end of month for customers along with the charges they have for merchants who accept payment by credit cards.
Over all I feel this Credit card is tricky business. We either have to be expert to exploit it, or simply avoid it 🙂

I am still confused. Is transfer to bank free in Paytm. I thought they started charging again in Feb?

it's free i think. people got used to it. and they faced backlash at putting back the charges.

the transfer page talks about nominal charges but does not appear in amount. i did not actually transfer to not sure how they can add fees at a later stage. but then they were adding 2% on actual payment page without showing it before.

mhsabir said:

I am still confused. Is transfer to bank free in Paytm. I thought they started charging again in Feb?

Click to expand...

Its free ..for now. I expect it to become mainstream after march/april

Well, that makes a lot more sense of why they thought of the 2% fee...