Paytm allows fund transfers to bank accounts at 0% transaction fee

Paytm allows fund transfers to bank accounts at 0% transaction fee

NEW DELHI: Earlier this week, mobile payment and e-commerce platform Paytm rolled out a feature allowing users and merchants to send money from their Paytm wallets to any bank account at 1% transaction fee. However, now the company has announced that it won’t be charging any transaction fee on bank transfers at all.

Paytm’s most recent move comes after MobiKwik reported it’ll allow support exchanges to financial balances at 0% transaction fee.

Earlier, clients and dealers with finished KYCs could send cash to banks through Paytm at 1% charge with no holding up period. However those without KYCs needed to pay a 4% exchange expense, trailed by a hold up time of 45 days post production of a Paytm account, keeping in mind the end goal to exchange cash to banks.

Paytm also said that more than 8,50,000 shippers and 30 million clients have utilized its administrations as a part of the most recent 3 days to buy day by day needs, for example, goods, family unit things, travel appointments and fuel, among others.

Recently, e-wallet administrations supplier MobiKwik reported that clients would now have the capacity to exchange cash right away to any financial balance at 0% exchange charges. The organization declared the component in the wake of focal government’s late demonetization drive, banning Rs 500 and Rs 1,000 banknotes.

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