Paytm denies rumours of transaction fee levy

Paytm has confirmed they won’t charge a transaction fee with effect from July 1 and has no plan to levy such charges in future as well. Earlier, several reports suggested the mobile wallet will pass down a merchant discount rate charged by banks and card companies to consumers. The charge was believed to be a fee of 1% on credit card, 0.9% on debit card, and up to Rs 12-15 on transactions done via net banking and UPI.