By IANS|Mar 11, 2017 08:12 am

New Delhi: Doing a quick U-turn in about 24 hours, digital payments firm Paytm on Friday suspended the two per cent charge it announced for adding money using credit cards. We are suspending the two per cent charge on credit cards for adding money to wallet, keeping users convenience in mind. We will introduce new features to prevent credit card misuse in adding money, Paytm said in a blog post here on Friday.

With an intent to prevent the misuse of transfer to bank facility at 0 per cent, Paytm had earlier applied a refundable fee of two per cent on add-money through credit cards.

At the same time, we are conscious that this move caused inconvenience to a large segment of our users, including those who are using their credit card for genuine transactions, it said, reports IANS.

The withdrawal of the two per cent charge apparently came in view of losing out to competition after mobile wallet major MobiKwik on Thursday announced that it would continue to offer free uploading of money.

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Paytm to continue free uploading of money - Free Press Journal