Paytm would charge 2% for loading Paytm Wallet through Credit Card from July 2019

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Sushubh

Sushubh

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looks like they are going to charge 2% from next month. not sure what privilege customers are.
 
Who are classic customers?
Who are privileged customers?

It's time to discontinue Paytm usages
 
Got the answer from here
Paytm Payments Bank
Who are Classic customers?
Customers are categorised as Classic customers on the basis of an analysis of their account usage patterns. A customer whose account is flagged upon observation of anomalous activity conducted such as circumvention of wallet to bank charges (as mentioned in Paytm Payments Bank) while transferring money from wallet to bank - will be categorized as a Classic customer.
Who are Privilege customers?
All customers who are not categorised as Classic customers, as mentioned above, will be categorised as Privilege customers.
 
Added 100 INR today to wallet. Got the full amount credited. Hope i'm a privilege customer😛
 
I guess the commission amount will be deducted when you actually make a payment.
 

lol not really. the amount should be debited right away while adding to wallet. Paytm is legally obliged to inform every customer's regarding this. I didn't receive an email or text. I added 2500 via amex just now. Paid a merchant 900 , no fee , nothing.

I am guessing this is only for those who missuse Paytm services (like adding money and then transferring to bank for RP , and finding tricks to do it free.

Normal cx's shouldn' t be getting any prob.
 
Yup. It should show the 2 percent charge at the time of funds deposited to wallet like they do when you transfer wallet funds to bank.
 
To the customers who would be charged must have received sms by now. So all who don't are safe n privileged.
 
w.e.f. 4th July 2019

is now mentioned on the charges details page. so would have to check on 4th.
 
They have increased from 4% to 5% for transferring from wallet to bank.
Won't they be benefited from that money?
For classic customers(who frequently transfer from wallet to bank) from now on will be charged(credit card users) 2% + 5% = 7%
Even with that percentage they will not be satisfied. Why is that?
 
Well, that's what they want, to discourage taking the money out of their network. They have sucked in MDR costs for so long and I welcome this decision of their's. As long as they keep MDR costs nill for normal customers who actually use Paytm network to pay merchants , recharge, bill pay, and other services within Paytm, I am happy!

Please don't say if paytm is benefiting , as if you are asking if they are being fair. They have been more than fair, as from so long they have been paying the banks MDR. If you ever owned a business and accept credit cards, you will understand MDR is a pain every merchant has to bear. No one likes that.

Understand, at the end of the day, PayTM is a business. They are in for profits dude.
 
Now, Paytm users have to pay 2% charge on using credit cards to top up wallets

This is fresh news so I guess it wasn't implemented last year?

Until now, users had to pay 2 per cent fee if they loaded more than ₹10,000 in their e-wallets via credit card in a month.

Paytm is also providing an offer, wherein users will get 2 per cent cashback up to ₹200 on adding minimum ₹50 using a credit card, as per the message.

The spokesperson further said the company has temporarily waived the 5 per cent charge that is levied on money transfer from wallet to bank accounts as a promotional offer for the festive season.
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