Paytm, the largest digital payment gateway in India, on Monday, debunked the reports that suggests that the company is going to charge users extra amount for its transactions.
“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 customers will continue using all the services available on the platform without any fee,” the Noida-headquartered company said in a statement.
Based out of Noida, Paytm was founded in 2010 by Vijay Shekhar Sharma with an aim to bring an ease in the digital payments ecosystem across India.
The statement from the platform comes after Economic Times published a report that said Paytm was going to allegedly charge 1 per cent on payments via credit cards, 0.9 per cent for cards and up to ₹12-15 through net banking and UPI-based methods.
While, according to the digital payments company, 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. We would like to reiterate that these charges aren’t levied by Paytm in any scenario,” said the company.
Some of the prominent players in the Indian market includes Fircent, LenDenClub, IndiaMoneyMart, Monexo, LoanBaba, CapZest, and i2iFunding.
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