Amid reports by several media outlets that Paytm would charge users extra amount for digital transactions on its platform, the Indian e-commerce wallet company on Monday issued a clarification, refuting the same. Speculations had been rife that Paytm is going to charge one per cent of the transaction value on payments via credit cards, 0.9 per cent for debit cards and up to Rs 12 to 15 through net banking and UPI-based methods.
In its clarification, Paytm said, "We would like to clarify that Paytm App/Payment Gateway owned by One97 Communications Ltd 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 customers can continue using all services available on our platform without any fee (same as before)".
"There have been few merchants like educational institutes or utility service providers who do not absorb credit card charges and expect customers to pay the same. In such cases, we recommend our users to pay through their debit cards and UPI to avoid these charges," the statement read.
"We would like to reiterate that these charges are not levied by Paytm in any scenario. We do not have any plans to levy any such fee in the future either," it added.
Paytm, the digital wallet company, facilitates bill payment, online purchase of services and products through all payment methods such as wallet, UPI, net-banking and cards on its platform.
The company which claims to have achieved 1.6 billion transactions in the first quarter of the ongoing fiscal year 2019-20, expects to achieve two billion transactions by the end of 2019.
With continuous growth in merchant payments at retail stores, the digital payment firm, backed by Chinese internet company major Alibaba, have more than 12 million merchants using Paytm QR code.