why? a lot of services charge a fee for transfers to bank accounts. it's nothing new. plus with their payment bank coming soon, i guess they would want their merchant customers to use their own bank accounts. i mean banks charge for neft/imps/rtgs payments. Paytm at least makes that free.
PhonePe does not charge for transfer to bank accounts i believe. but then their wallet is practically useless.
1% for partner merchants. who are likely to get cheque books and atm cards once the payment bank is officially launched based on rumors in the market. which means that they would eventually get alternative and free options to access their money deposited with Paytm. for consumers... 1% is i guess reasonable considering regular users are likely to keep funds in their Paytm account for daily need transactions. remains to be seen if payment bank accounts would be available to regular customers... i really have no clue about what sort of featureset is established for these half-banks.
i personally love the fact that i can transfer Rs. 1 using Paytm without worrying about any charges. i remember yes bank charged me rs. 5 for a rs. 1 imps transaction i did for testing with a friend.