Everything You Need to Know About Paytm’s Newly Added Charges.

Date:

Paytm is an e-commerce payment system trusted by millions of users with a value of $10 billion in the previous year. The mobile wallet company, Paytm recently released a list of all charges, when you add money via credit card or from e-wallet to your bank account.



Paytm Wallet
Newly added charges in Paytm

We can assume that the company is going to lose quite a number of its users by the recent modifications made. Though transactions less than 10,000 INR could be done for free, but for transactions above 10,000 INR the company is going to charge an amount of 1.75% plus GST on the entire transaction.

At the same time, if the entire money added through your credit card including the current transaction exceeds the value of 10,000, the company would charge an amount of 1.75% on the transaction as a whole besides GST.




The following are two examples to make the above statements more clear. In case one, suppose you add an amount of 12,000 INR, a fee of 240 INR will be charged and on a total 12,240 INR will be deducted from the credit card.

In case two, let’s take an example of multiple transactions. Suppose you add 1,000 INR to the wallet, no fees will be charged. Again you add an amount of 2,000 INR to the e-wallet, no fees will be charged again. Next time, you add an amount of 7,500 INR, the entire amount shall be charged now following all subsequent transactions.

Usually, people do not prefer this kind of system where they are charged for transferring the amount. But still, there are millions of users who still prefer using the app not exactly for the transactions that demand charges but for the payment through QR code.




The QR code launched by the mobile wallet company for the merchant payment purpose, today enjoys a 54% market share of mobile payments. To avoid various kinds of charges, people prefer using debit cards or UPI. Though purchase at the merchant site is absolutely free. Also paytm to paytm wallet transfers do not charge extra money. 

But at the same time, the company charges 5% in the case of money transfer from Paytm wallet to Paytm payment bank or any other bank account. 

Paytm is available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code.




Paytm bringing in such changes and adding extra charged might not sound good to those users who’ve been using the app quite a much for their day to day transactions. But Paytm has to maintain a business front and money is what keeps them in the game, so one can forget about the rollback of any such charges but be prepared for some new ones as well.

Related articles

Checkout The Best Offers On Gas Bill Payment

Paying gas bills has become much easier and convenient nowadays. Long gone are the days where you had...

Everything to Know About the Paytm KYC Cyber Crime Case.

Paytm has been one of the entities in today's time which has turned from a luxury to a...

Latest Paytm Offers that you can Avail in Oct 2021

Whether it's an online payment, a recharge, or purchasing movie, train, or aeroplane tickets, Paytm has you prepared...

Paytm Mini Appstore Launched For Developers, Apps Like Dominos and Ola to be Hosted

Paytm Mini Appstore is the new inclusion from Paytm's side and this time they're looking to take over...

Paytm Mini Appstore Launched For Developers, Apps Like Dominos and Ola to be Hosted

Paytm Mini Appstore is the new inclusion from Paytm's side and this time they're looking to take over...

Flipkart Shook Hands With SBI and Paytm For Offers During Big Billion Sale

The excitement among shoppers is high as Flipkart's Big Billion Sale is almost here and well! they might...

Paytm IPO: one of the biggest public offerings today; should you invest money?

One97 Communications, Paytm holding company, is preparing to launch its huge initial public offering (IPO) on Monday,8th November...

Latest Paytm Offers that you can Avail in Oct 2021

Whether it's an online payment, a recharge, or purchasing movie, train, or aeroplane tickets, Paytm has you prepared...