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

Paytm has rolled back its 2% charge on recharge through credit card, a day after it announced it will levy fee on customers who recharge the digital wallet through credit cards and then transfer the amount to their bank accounts.

In a blog post, Paytm 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.