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

Must Read

Hands-Free Resources: How Businesses Are Using AR to Make Workplaces Safe and Productive

The role of efficiency and ease in the modern world has become forefronted when it comes to technology, particularly...

Top Countries by App Downloads Q2 2021: India Dominates With 7 Billion+ Downloads [REPORT]

As the adoption of smartphones and the Internet has increased over the last decade, so has the number of...

TikTok Is Now The World’s Most Popular Non-Facebook App With Record 3 Billion Downloads!

When you think of the world's most popular apps, the first name comes into your mind: Facebook. If not,...

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

A Big Blow To Amazon and Flipkart: CCI Investigation To Continue

Flipkart and Amazon continue to find themselves in hot water as their plea against the investigation that is being...

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 and unparalleled...

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, with a...

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 of the...

More Articles Like This