Paytm to charge 1% MDR fee on wallet; set aside Rs 100 Cr for loyalty program for merchants to return the fee

Digital payments firm Paytm has announced that it will charge a 1% fee on merchant payments received through wallet, a move that will hurt merchants as the ongoing lockdown has already reduced the online payment volume.

A post by Paytm for Business said it will charge a 1% fee including 18% GST on receiving payment from wallets beginning May 4, 2020.

The 1% MDR or merchant discount rate is applicable to existing limits set by Paytm.

Continue reading Paytm to charge 1% MDR fee on wallet; set aside Rs 100 Cr for loyalty program for merchants to return the fee at Entrackr.

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