Digital wallet player Paytm will now levy a 2% fee for adding money to Paytm wallet using credit cards.
This is a result of multiple users using Paytm to get free credit by using credit cards to top up their digital wallets and transferring the money back to their bank accounts at zero transaction cost.
The digital payment wallet will, however, provide an equivalent amount of cashback for using credit card to add money to the wallet. The cost of adding money to the wallet through other modes such as net banking and debit cards remains non-chargeable.
Source: Financial Express