March 10, 2017 12:54 PM

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Paytm withdraws 2% fee on adding money to mobile wallets using credit cards

Paytm has withdrawn the 2 per cent fee on adding money to mobile wallets using credit cards, a merely two days after introducing the levy. The company had introduced the fee after finding multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and then transferring the money back to their bank accounts at zero transaction cost. In a statement, Paytm said, keeping the millions of customers' and merchants' interest, the company decided to remove the 2 per cent fee and announced that it will be using a series of features to constantly target the misuse.

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