Paytm Clarified That It Won't Charge Extra Cost For Digital Transactions

Digital wallet company Paytm denied the report which claimed that it will charge extra cost for digital transactions conducted on its platform. The earlier report said that the company is planning to charge a 1 percent additional amount out of the transaction amount.

The Noida-headquartered company said in a statement:

According to the ET report, published last Sunday, Paytm is going to charge 0.9 percent on payment via debit card, 1 percent on credit cards and will charge Rs 12 to Rs 15 through UPI-based and internet banking.

The digital payment company also said in a statement that it still has few merchants such as educational institutes and other utility service providers not absorbing credit card charges and expecting that customers will pay the charges.

According to the company, which additionally said that it doesn't have any future plans to apply such fee:

The subsidiary company of One97 communications earlier clarified that it is a company in the payment gateway industry who has earned 50% market share in India. The company claimed that it processes over 400 million transactions each month for merchants and it is ahead in the competition with the largest volume and the largest merchant base.

Online services such as IRCTC, Dominos, PVR, Big Basket, Jio, Zomato, and Idea, among others like to prefer Paytm, and the majority of their transactions are done via Paytm digital wallet.