Paytm top-up via credit card faces 2% fee

Bengaluru: Paytm users will have to pay a 2% fee if they load more than Rs 10,000 in their ewallets via credit card in a month, according to the company’s new policy. Wallet top-up via debit cards and Unified Payments Interface (UPI) would continue to remain free. This is being seen as a move to save costs on such transactions, people aware of the matter said.

“In case the total money added by credit card, including current transaction, exceeds Rs 10,000, the entire transaction amount will be charged as 1.75% + GST,” Paytm said in a Twitter post. This is not the first time Paytm has considered this move. Over a year ago, it considered bringing these charges but had stopped short of implementing it. It would be crucial to see how consumers react to this change, as many use their credit cards to load money in their Paytm wallets for frequent use-case like paying taxi fares.