Paytm waives charges on merchant transactions; to absorb MDR of Rs 600 cr

Fintech major Paytm on Tuesday said it will waive all charges on merchant transactions, and enable its merchant partners to accept payments from Paytm wallet, UPI apps and RuPay cards at zero charges.

Paytm will absorb Rs 600 crore in MDR charges annually by banks and other charges to support micro, small and medium enterprises (MSMEs) during the ongoing pandemic, according to a statement.

This would help ensure that these merchants have adequate liquidity to expand their businesses, it added.

“This initiative will benefit more than 17 million merchants on Paytm ecosystem who use Paytm All-in-One QR, Paytm Soundbox and Paytm All-in-One Android POS to accept payments from their customers,” the statement said.