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Paytm to charge 1% MDR from businesses for all Payments Received On Wallet

By Retail4Growth Team | May 06, 2020

The company has further announced Rs 100 crores loyalty program for grocery stores to cover losses faced by merchants from transaction charges.

Digital payment firm Paytm has announced that it will charge 1 percent MDR (merchant discount rate) from businesses for transferring payment on Paytm wallet to their bank account.

The company has further announced Rs 100 crores loyalty program for grocery stores to cover losses faced by merchants from transaction charges.

Saurabh Sharma, senior vice president, Paytm said that the banks charge them a fee to load the wallet and we will be returning this 1 percent MDR by doubling the benefits for their business which includes various financial and business services that they use on our platform.

The company further said that all merchant partners will be eligible to earn reward points for accepting payments from Paytm Wallet, Rupay Cards, and all UPI based payment apps.

“There is no limit on the reward points that can be earned by a merchant and will directly depend upon the total number of transactions done through the Paytm all-in-One QR," it said.

 

 

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