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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

<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

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

Though credit cards have come as an alternatives to cash, for some kinds of <a href="https://www.paisabazaar.com/banking/transferring-money-from-credit-card-bank-account-online/">transactions</a> and needs, you might need to have money in your bank account. At times you might need to send money to someone’s bank account too. Here are the ways to transfer money from credit card to bank account in some simple steps. MoneyGram You can use MoneyGram to transfer money from credit card to any bank account in more than 400 banks around the world. Select the receiver and the country where the bank is located. Input the full name of the receiver. If you wish to transfer money to your own account, input the details of your account and your complete name. Choose the ‘Account Deposit’ option and input the amount you wish to transfer. Choose ‘Credit Card’ as the method of payment. Money will be transferred to the bank account from your credit card. <keyword id="151105" type="COMPANY" weightage="20" keywordseo="Western-Union">Western Union</keyword> Transferring money from credit card to bank account via Western Union is yet another simple way similar to the one discussed above. First register with Western Union and log into your profile. Choose the country, amount you wish to transfer and the mode of delivery. Input the bank account details of the receiver. You can make the payment using your credit card. You will receive a confirmation via email and also the tracking number. This is also known as the MTCN number (Money Transfer Control Number). Now the money is transferred from your credit card to the bank account you specified. Direct transfer to the bank account depends on several aspects like the amount, currency, country, the banker’s regulations and the working hours. Usually a money transfer through Western Union might take 1-5 working days. Paytm Usually the money transfer feature you will find on Paytm and other similar kind of e-wallet services is mainly intended to help the consumers avoid having too much cash on their e-wallet. However, this feature can be used to transfer money from your credit card to any bank account also in the following steps. Register with Paytm. To start with, transfer some fund from your credit card to your paytm wallet. Go to Paytm App and land on to ‘Passbook’. Tap on the option ‘Send money to Bank’. Choose the ‘Transfer’ option. Input the details with regard to amount, account number, and IFSC code. Once you click on ‘Send’, the money will be transferred to the intended bank account. What you must know about transferring money from your credit card to bank account Under usual circumstances, using credit card to bring in some cash in your bank account is never advised. In fact this is not the way a credit card must be used. This method is found to create some difficulties for the bank. The banks are instructed to supply the information of the customers who spend more than ₹200,000 per year on their credit cards. Hence when you try to generate free credit, you will automatically come under the surveillance of the income tax department and authorities who are supervising the unauthorized practices. However, this method is simpler, easier and cheaper than opting for a personal loan. You must make an informed decision by knowing the regulations in place.

How to transfer money from credit card to account if you are in India

<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

<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

<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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