Paytm to charge 1% MDR fee on wallet, also set aside Rs 100 Cr for loyalty program

Paytm for Business will charge a 1% fee including 18% GST on receiving payment from wallets beginning May 4, 2020, though there will be no charges for merchants accepting payments via UPI. Earlier, there was zero MDR fee for less than Rs 20,000 for wallets and for more than Rs 20,000 they had to pay 2% as a fee. According to Paytm, the new loyalty program aims to ensure that accepting digital payments is a rewarding experience for the kirana stores. It has also set aside Rs 100 crore for the initiative.

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