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Next time you recharge your<a href="http://www.businessinsider.in/searchresult.cms?query=paytm&amp;sortorder=effectivedate"> Paytm</a> wallet through credit card, be ready for a 2% fee. The <a href="http://www.businessinsider.in/searchresult.cms?query=digital+wallets&amp;sortorder=effectivedate">digital wallet</a> will levy a 2% charge for adding money in the <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> wallet using credit cards but it will also give a <a href="http://www.businessinsider.in/searchresult.cms?query=cashback&amp;sortorder=effectivedate">cashback</a> of the equivalent amount. 
 
Paytm announced this in a bid to check users who were 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. 
 
If you are adding money to the Paytm wallet through <a href="http://www.businessinsider.in/searchresult.cms?query=netbanking&amp;sortorder=effectivedate">netbanking</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=debit+card&amp;sortorder=effectivedate">debit cards</a>, no charges will be levied. 
 
"Paytm pays hefty charges when you use your credit card at card networks and issuing banks. If a user simply adds money and takes it to the bank, we lose money,” stated Paytm in a blog. 
 
Credit card users transacting on the Paytm marketplace, booking tickets and paying utility bills on the platform will not be charged any fee.

Paytm levies 2% fee on adding money via credit cards. This is how it is compensating

<keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> is a pioneer of QR-based and mobile payments and the <keyword id="1736801" type="General" weightage="20" keywordseo="paytm-app" source="Orion">Paytm app</keyword> has become a one-stop-shop for all kinds of <a href="https://paytm.com/credit-card-bill-payment?utm_source=BusinessInsider&amp;utm_medium=article&amp;utm_campaign=Credit-Card-Bills-payment">payments</a> online over the years. The platform allows users to shop online, make payments using UPI, book tickets, recharge mobile phones and much more. The platform that began India’s fintech revolution is more than just a general payments app today, and one of its most useful functions is in managing and paying <keyword id="133020" type="General" weightage="20" keywordseo="credit-card-bills" source="Orion">credit card bills</keyword>. Paying credit card bills on Paytm is simple, easy and functional. It can remind you when it’s time to pay, and can be used to pay multiple bills at the same time. Here are some reasons you should use the Paytm application to pay <a href="https://paytm.com/credit-card-bill-payment?utm_source=BusinessInsider&amp;utm_medium=article&amp;utm_campaign=Credit-Card-Bills-payment">credit card bills</a>. <ul><li>The Paytm app makes credit card payments easy by allowing users to add multiple cards to the app and remember them.</li><li>By adding multiple cards, the app also allows users to pay for all the credit cards at the same time. The Paytm app allows you to pay your credit card bill for all banks across Visa, Mastercard, Rupay, American Express, and Diner card portfolios.</li><li>The app also provides rewards, cashback, and flexible payment methods for users to pay credit card bills.</li><li>While bank applications usually use NEFT or IMPS methods for bill payment, the Paytm app throws UPI into the mix.</li><li>The Paytm app also allows the user to set reminders for bill payments, so they don’t miss the due date.</li></ul>How to make payments using Paytm app If you don’t have a <a href="https://paytm.com/credit-card-bill-payment?utm_source=BusinessInsider&amp;utm_medium=article&amp;utm_campaign=Credit-Card-Bills-payment">Paytm </a>account, you need to download the app on your iOS or Android smartphone and create one. Once that is done, you can go to the ‘recharge &amp; bill payment’ section on the Paytm app and select the ‘<keyword id="1069333" type="General" weightage="20" keywordseo="credit-card-payment" source="Orion">credit card payment</keyword>’ option. The app will ask you to enter the credit card number when you make a payment the first time, but it can remember the card after that. With the Reserve Bank of India’s (RBI) new guidelines in place, the cards will be saved with Visa, Mastercard, or another card issuer, and Paytm won’t actually store the details on its own servers. Once the card number is entered, the user will need to click ‘proceed’, to allow the app to automatically detect the bill amount by contacting your bank. The next step is simply to select one of the payment modes — UPI, net banking, debit card, etc — and make the payment. A decade ago, people had to go to an ATM and drop a cheque to pay their credit card bills, but the Internet made that simpler. And now, apps like Paytm are making this process easier by bringing different cards and different payment methods to the same medium. Add features like late fee protection and reminders on top, and you have perhaps the best way to make credit card payments. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm makes it easier to pay credit card bills – here are five reasons why you should be using it

New Delhi, Feb 17 () Digital payments firm Paytm on Monday said it has extended its partnership with Uber that will enable passengers to pay for their ride through credit or debit card using its platform. Earlier, passengers were able to pay for their rides through Paytm wallet and other modes like cash and cards separately. "Uber and Paytm have been long-standing partners. We are extending this partnership to a full-stack payment gateway. This integration will benefit millions of Uber riders to make seamless instant payments from their cards which might be already saved on Paytm," Puneet Jain, senior vice president at Paytm Payments Gateway said in a statement. Under the extended partnership, Paytm will also provide a range of services to Uber's driver partners under the Uber Care program such as savings accounts, zero-fee debit cards and significant cashback at Indian Oil, Paytm FASTags among others. "With the latest credit and debit card integration with Paytm, we hope to promote more digital transactions, reduce cash dependency on the platform and improve the country's digital financial infrastructure," Nandini Maheshwari, Director, Business Development, Uber India &amp; South Asia said. PRS RVK

Paytm extends payment service partnership with Uber

<a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a> founder-CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Shekhar+Sharma&amp;sortorder=effectivedate">Vijay Shekhar Sharma</a> is on a roll, literally. He’s rolling out one service after another. <keyword id="6357120" type="UNKNOWN" weightage="80" keywordseo="PayTM">Paytm</keyword>’s <a href="http://www.businessinsider.in/searchresult.cms?query=payments+bank&amp;sortorder=effectivedate">payments bank</a> operations are expected to start by August and its Wallet users can pay for <a href="http://www.businessinsider.in/searchresult.cms?query=Uber&amp;sortorder=effectivedate">Uber</a> rides globally by the end of the month. 
 
The company will soon launch cards with QR codes to enable users to make financial transactions, and Vijay has accepted the company will have physical banking outlets soon. He reveals they’re also working on an ‘interesting concept’ he calls Paytm Ka ATM (Paytm’s ATM). 
 
Business Insider caught up with <a href="http://www.businessinsider.in/searchresult.cms?query=Vijay+Shekhar+Sharma&amp;sortorder=effectivedate">Vijay</a> to get an idea of what’s next from <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm&amp;sortorder=effectivedate">Paytm</a>: 
 
When will you enable <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm+Wallets&amp;sortorder=effectivedate">Paytm Wallets</a> on <a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba&amp;sortorder=effectivedate">Alibaba</a>? 
<a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba&amp;sortorder=effectivedate">Alibaba</a> is figuring out its consumer-merchant strategy. 
 
When they’re ready to go global, we will integrate them as a merchant. 
 
Any time-lines? 
I can’t talk on behalf of <a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba&amp;sortorder=effectivedate">Alibaba</a>. 
 
We will be integrated on retail B2C for sure by the end of the year. 
 
What about forex issues? 
Money deducted from <a href="http://www.businessinsider.in/searchresult.cms?query=Paytm+wallet&amp;sortorder=effectivedate">Paytm wallet</a> will always be in Indian Rupee, and cannot be foreign currency. Alipay will take Indian currency and make it into dollars. 
 The RBI restricts payments debited in rupees. However, when we have a <keyword id="2324069" type="UNKNOWN" weightage="60" keywordseo="Payments-Bank">payments bank</keyword>, we can debit in dollars directly. 
 
Will Indian consumers be charged a premium for payments made overseas? 
It would be standard conversation rate. We don’t charge the consumer ever. The merchants pay the charge. 
 
It will definitely be cheaper than on-counter rupee or dollars handed over. That’s the edge mobile payment companies bring. 
 
You’re planning to launch physical banking stores? 
Every city we launch in will have a branch. 
 
People have more peace of mind when they know there’s a physical footprint to their banking organization. We’re also working on a concept of an ATM. 
 
However, our distribution will be focused on the app. 
 
What about consumers without smartphones 
People who don’t have smartphones can have our electronic cards with QR Code. Call it the Paytm Card. 
 
<a href="http://economictimes.indiatimes.com/photo/51033957.cms">Image Source</a>

Exclusive:
Paytm founder-CEO Vijay Shekhar Sharma talks about his plans to go global

<a href="http://www.businessinsider.in/searchresult.cms?query=paytm&amp;sortorder=effectivedate">Paytm</a> has rolled back its 2% charge on recharge through <a href="http://www.businessinsider.in/searchresult.cms?query=credit+card&amp;sortorder=effectivedate">credit card</a>, a day after it announced it will levy fee on customers who recharge the <a href="http://www.businessinsider.in/searchresult.cms?query=digital+wallets&amp;sortorder=effectivedate">digital wallet </a>through credit cards and then transfer the amount to their bank accounts. 
 In a blog post, <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> wrote it took the decision for the convenience of the users. 
 
"We are suspending 2% charge on credit cards for adding money to wallet keeping users' convenience in mind. We are conscious that this move caused inconvenience to a large segment of our users, including those who are using their credit card for genuine transactions," the blog read. 
 
"We will introduce new features to prevent credit card misuse in add money," Paytm stated.

Paytm does a U-turn, suspends 2% charges on credit card recharge

<keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> has announced its plans to bring every big and small merchant in India on its platform, where any merchant with a Paytm app can transact up to Rs 50,000 monthly by self declaring himself as a businessman. 
 Paytm’s <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> said, "We expect to add 15 lakh merchants on paytm by the end of this week." 
 
Currently, they already have 15 lakh merchants on their platform. 
 
The process is simple and is done in 4 steps with the merchant going on 'accept payments' on the top right of the app and then going on to fill the card details of the customer trying to make the payment. 
 
The entire process will take less than 5 minutes. However, if Rs 50,000 was feeling limited for a merchant, he can get rid of any limits through signing up with Paytm as a full time merchant on the platform. Once a full time merchant, there are no limits to transactions. 
 
No fees will be charged from merchants up to 31st December 2016 after self declaration. 
 
As far as security is concerned, none of the details of their bank accounts or card details will ever be saved with the merchant. 
 
Here are some other interesting details about what Paytm has been up to this year- 
-Cities where Paytm is used the maximum are Hyderabad &amp; Chennai with as many as 4 transactions a day on average up from 4 transactions a week from a few weeks ago 
 
- In the top 50 cities, this figure is 3 transactions a day on an average 
 
- The most transacted items on Paytm are Groceries, QSR and local transport 
 
- Paytm's annual marketing budget is Rs 500-600 cr 
 
-Since demonetization, the monthly spend has gone 3x for November 
 
- In 2015-16, Paytm spent Rs 2546 crore on marketing 
- On the Payment platform- credit card fees will be 2% 
 
- Paytm incurred a loss of Rs 1500 crore in 2015-16 and made about Rs 1000 crore in revenue having spent Rs 2500 crore in investments

Paytm just disrupted the way entrepreneurs do business

<ul><li><keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> has planned a major push for the company and its partners.</li><li>It aims to focus on the states of Gujarat, Maharashtra, Andhra Pradesh, Telangana and Karnataka.</li></ul>Paytm has announced that the company and its partners will allocate ₹100 crore for marketing activities during the <keyword id="36208" type="General" weightage="20" keywordseo="festive-season" source="Orion">festive season</keyword>. These campaigns will be aligned to promote digital payments in India and educate users about Paytm UPI for money transfers, <keyword id="3032681" type="General" weightage="20" keywordseo="paytm-wallet" source="Orion">Paytm Wallet</keyword> and Paytm Postpaid (Buy Now, Pay Later) for spends, to drive financial inclusion across the country. The company has also announced “Paytm Cashback Dhamaka”, a cashback festival starting from October 14, where users can win cashback for money transfers, online, offline payments or recharges done through the app. The idea is to bring exciting offers and drive the adoption of Paytm’s digital payment instruments to more and more users across the country. The program will be rolled out across all districts in India — from merchant partners’ stores to large retail outlets, as well as online platforms. There will be a special focus on the states of Gujarat, Maharashtra, Andhra Pradesh, Telangana and Karnataka. During the peak festive season (October 14-November 14), everyday 10 lucky winners will win ₹1 lakh each, 10,000 winners will get ₹100 cashback, while another 10,000 users will win ₹50 cashback. Closer to Diwali (November 1-3) users can win upto ₹10 lakh daily. Users also stand a chance to win an iPhone 13, tickets for the T20 World Cup, shopping vouchers from top brands like Levi’s, Leaf headphones, among many others, and many more exciting rewards. Users can win cashback by using Paytm for their mobile, broadband DTH recharges, utility bill payments, money transfer, booking travel (flight/bus/train) tickets, paying credit card bills, booking movie tickets, FASTag payments, transactions at online and offline kirana stores and so much more. The offer is applicable for payments made through all the major payment options offered by the company — Paytm Wallet, Paytm UPI, Paytm Postpaid (Buy Now, Pay Later), credit cards/debit cards among others. Paytm spokesperson said, “Our aim is to drive financial inclusion in India by empowering more and more users with digital payments. Today, users come to Paytm for payments of their utility bills, recharges, money transfers among other services and enjoy a wide variety of payment instruments from Paytm Wallet, Paytm UPI, netbanking and Paytm Postpaid. The Paytm Cashback Dhamaka has been launched to celebrate the festive season with our users and offer them exciting cashback and rewards.”

Paytm sets aside ₹100 crore for marketing campaigns during festive season to promote UPI, postpaid and wallet businesses

<ul><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> users received push notification saying it is charging extra for adding money to its wallet.</li><li>The company released a statement to say that it doesn’t currently charge extra for adding credit or debit cards, and doesn’t plan to do so either. </li><li>Paytm had clocked in a gross transaction value of $50 billion through 5.5 billion transactions in the financial year 2018-19.</li></ul>On Thursday afternoon (June 27), Paytm users got a push notification which said that their transactions to add money to their wallets through credit cards will be charged at 2%. Following this, there were reports that all transactions – debit or credit – would be charged, to recover from the cash burn. However, Paytm clarified that it does not levy any convenience/transaction fee. “We would like to clarify that Paytm App/ Payment Gateway 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 (same as before),” the company said in a statement. It also went on to warn users of educational institutes or organisations which do not want to bear <keyword id="6368202" type="UNKNOWN" weightage="20" keywordseo="credit-card">credit card</keyword> charges and thus, shrug it off to the consumers by asking them to pay for the same. Paytm clocked in a gross transaction value of $50 billion through 5.5 billion transactions in the financial year 2018-19. It has also set a target of 12 billion transactions by FY20. It currently holds over 50% of the market share in the payment gateway industry. The company also said that as many as 400 million transactions take place on its platform every month. This is five times more than its next competitor, in this case, MobiKwik. See Also: <a href="https://www.businessinsider.in/online-fund-transfers-via-neft-and-rtgs-to-cost-less-as-charges-are-removed/articleshow/70020101.cms">Online fund transfers via NEFT and RTGS to cost less as charges are removed</a>

Paytm denies charging fee for adding money to its wallet

<keyword id="3236791" type="UNKNOWN" weightage="100" keywordseo="Paytm-payments-bank">Paytm Payments Bank</keyword> has become operational from today onward and your current <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword> wallet has been moved to the <keyword id="2324069" type="UNKNOWN" weightage="20" keywordseo="Payments-Bank">payments bank</keyword>. Now, your Paytm wallet will operate under the Paytm Payments Bank and will continue to work in the manner as earlier and your login details will remain the same. <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>’s Paytm Payments Bank got approval from the <keyword id="6354335" type="CITY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) in January this year. Payments banks is a new model of banks conceptualised by the RBI and can accept a restricted deposit, which is currently limited to Rs 1 lakh per customer and may be increased further. These banks cannot issue loans and credit cards. Under the Paytm Payments Bank, which is dubbed as India’s first bank with zero charges on online transactions, will have zero minimum balance requirement and issue free virtual debit card. Paytm became a household name after demonetisation as many Indians moved to the digital wallet and made maximum transactions. Now that the digital wallet has become a payments bank, here’s everything you should know

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