Media was abuzz with news claiming that Paytm will be charging extra for digital transactions starting 1-July. Udaipurtimes had also carried an article towards the same. Paytm has however refuted this news and issued a clarification on its site as well as social media towards the same.
Media articles (including ours) had claimed that Paytm will pass on the processing fees in form of merchant discount rate that it pays to banks and other institutions. Paytm however has issued a clarification towards that stating, We would like to clarify that Paytm app/payment gateway owned by One97 Communications Limited does not charge or levy any convenience/transaction fee from our customers on using any payment method which includes cards, UPI, net-banking and wallet.”
Paytm said that there are a few merchants like educational institutions and utility service providers that do not absorb the processing fees and pass the charge on to customers. In such cases, Paytm advices users to pay through debit cards and UPI to avoid processing fees charges.
Paytm categorically clarified that these charges are not levied by Paytm in any scenario.