Now adding amount to your e-wallet via credit card will cost you dearly. On the amount added to their e-wallet using a credit card, Paytm users will need to give a 2 per cent fee on the. Prior to this, customers were meant to pay 2 per cent fee if they loaded over ₹ 10,000 in their e-wallets via credit card in a month. As per a messaged displayed on the Flipkart site, minimal charge of 2 per cent is applicable on adding money using credit card. The message says that the fee is applicable as Flipkart pays high charges to bank/payment network when customers add money using a credit card. The message advises customers to use UPI or debit card to add money for free.
The message also informs that Paytm is providing an offer. As a part of the offer, users will get 2 per cent cashback up to Rs 200 on adding minimum Rs 50 using credit card. Users have the option to add money to their Paytm wallet from any of their favourite funding source, including net banking, UPI and cards. As per the company, as a promotional offer for the festive season, it has waived the 5 per cent charge that is levied on money transfer from wallet to bank accounts.
Before this, in 2017, Paytm had announced a similar fee on amounts added to the wallet via credit cards. However, it had rolled back the decision after pressure from users. Paytm, at that time, had said that the fee was targeted to limiting the misuse of its platform to transfer interest-free credit card funds to bank accounts of users at zero transaction cost.