Paytm rolls back 2% charge on top-ups via credit card

March 10, 2017 09:49

Paytm has withdrawn the 2 per cent fee on adding money to mobile wallets using credit cards, a merely two days after introducing the levy.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 Alibaba-backed company had introduced the fee on March 8 after it found 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.

"Keeping the millions of customers' and merchants' interest as utmost priority, the company has decided to remove the 2 per cent fee and announced that it will be using a series of features and constantly target the misuse," Paytm said in a statement.

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