Full text: Paytm suspends 2% fee on credit cards, here's why

We will introduce new features to prevent credit card misuse in add money, says Paytm

E-wallet company Paytm has rolled back its 2 percent charge on credit card transactions used for recharging the wallet.

It said: “Keeping the millions of customers and merchants interest as utmost priority, we have decided to suspend the 2 percent fees and will continue to build a series of features to curb such misuse."

Here is the full text:

We are suspending 2% charge on credit cards for adding money to wallet keeping users’ convenience in mind

With an intent to prevent the misuse of transfer to bank facility at 0%, we had applied a refundable fee of 2% on add-money through credit cards. At the same time, 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.

Keeping the millions of customers and merchants interest as utmost priority, we have decided to suspend the 2% fees and will continue to build a series of features to curb such misuse.

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