Paytm to charge 1% MDR fee on wallet; set aside Rs 100 Cr for loyalty program for merchants to return the fee
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Paytm has announced that it will charge a 1% fee on merchant payments received through wallet, a move that will hurt merchants as the ongoing lockdown has already reduced the online payment volume. The 1% MDR or merchant discount rate is applicable to existing limits set by Paytm. There will be no charges for merchants accepting payments directly into their bank accounts via UPI.