Paytm to not charge any fee on wallet payments for merchants; move to benefit 1.70 crore users

In an effort to de-clutter the digital payments ecosystem and augment the use of online payments, Paytm has announced that merchants will now be allowed to receive unlimited payments through its Paytm Wallet at a 0% fee, along with UPI and Rupay Cards. “With this, we aim to benefit more than 17 million (1.7 crore) merchants who can enjoy a 0% fee on all their digital payments with direct settlement in their bank accounts,” paytm said in a blog on its website. Paytm is one of the largest payment solutions providers in the country with a large customer base. Of the 17 millions merchants that use Paytm, Goldman Sachs recently said, a massive 70% are active.