Paytm Suspends Its Hush-Hush Plan To Charge 2% Fee on Credit Card Transaction

Must Read

Skeletons in the Closet? Google-Facebook Involved in Secret Online Advertising Deal

If you can’t beat ‘em, join ‘em. And when two titans happen to decide upon an alliance,...

Smartphone Resale Value: Depreciation Is Surprising Enough [REPORT]

It's a tad cliché and true that smartphones have permeated every sphere of our life. The ceaseless...

“Open Up Cambridge Analytica, It’s CBI At the Door!”

Among all the establishments ensnared in deplorable acts, Cambridge Analytica has steadily climbed the ladder of infamy....

Paytm has suspended the half backed strategy to prevent the misuse of cash withdrawal from credit card via Paytm at 0% fee. After much uproar, criticism and questions Paytm has apparently realised the move could bring in more of inconvenience to users.

“Keeping the millions of customers and merchants interest as an utmost priority, we have decided to suspend the 2% fees and will continue to build a series of features to kerb such misuse”, Paytm writes on its blog.

The analysts, however, believe that Paytm’s move was more like a hush-hush decision as the system was not designed intelligently to handle the misuse of credit card transactions on the platform.

In our last teardown analysis after Paytm had announced the move to charge 2% on credit card transactions on the platform, we raised few questions on the possible abuse that still exists. Besides, we also found gaps in the newly designed process that could cause inconvenience to users who transact on the Paytm via credit card for legitimate use. It made Vijay Shekhar Sharm, Founder & CEO – Paytm, come out in defence. After few initial counters and clarifications, Mr. Sharma perhaps realised the complexity in the newly designed process, which resulted in suspending its plan to charge 2% later in the day.

Advertisements

Paytm has said that company is committed to users and keep customers’ convenience at priority.The team is developing the more enhanced and intelligent process that could automatically identify the legitimate and non-legitimate transaction regarding credit card transactions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Amazon Prime Video: End Of Subscriber Hunt And Beginning Of An Ad-Fuelled Future!

The streaming landscape of India is going through a rapid transformation. Seems like it is no longer...

Why Is Retargeting Touted As A Secret Weapon For Success By Online Marketers

You know that ads play an important role in driving people to your website if you run a small business and sell...

Happy B’day Chad Hurley: The Co-Founder Of The World’s Largest Video Library

Chad Hurley never cared about success, he mended his ideas and tried to garner the fruits from those. But not every time...

Encouraged By Record Profit of RIL, Ambani Wants To Accelerate 5G Arrival in India

Brace yourselves for the sooner-than-anticipated arrival of  Reliance Jio 5G services because the 63-year-old billionaire tycoon Ambani recently pledged to the speedy launch...

How Mobile Is Becoming A Catalyst Of Online Gambling Market Growth

The global online gambling market is now one of the biggest and it is expected to grow up to 127.3 billion US...

“Open Up Cambridge Analytica, It’s CBI At the Door!”

Among all the establishments ensnared in deplorable acts, Cambridge Analytica has steadily climbed the ladder of infamy. The roots of its malice...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This