IT partners suggest ‘Paytm Mat karo’

A recent statement given by Vice President of Congress Rahul Gandhi that ‘Pay to Paytm means Pay to Modi’ has been took lightly by people because of his childish behavior and statements. But now, situation after demonetization is telling something different story in IT market.

After November 8, when this big announcement was made, Paytm has come into the action to digitalize the consumer as well as the trader. Paytm has done lots of changes in their application for easier user interface and better online payments for all. Paytm updated its app to launch India’s first app POS allowing all small and medium merchants to accept all card payments including RuPay, Visa, MasterCard and Maestro. Traders were happy initially that by using Paytm, they would not face any issue in business but due to lots of changes in policies and hidden conditions is now harassing the IT traders who adopt Paytm for their business.

Also Read: CBI files FIR on Paytm cheating case

Swaran Singh, Secretary, All Delhi Computers Traders Association (ADCTA) said, “After demonetization, our traders in Nehru Place were using Paytm for accepting Paytm money. But now the major challenge that partners are facing is to transfer the Paytm money into the bank account.”

“Bank is charging us 1.45%+ service tax to convert the Paytm money into the respective bank account and there is also a limit of just Rs. 25000 in a month which is too low for the traders. We are restricted for our hard-earned money,” he added.

Mahinder Aggrawal, President, ADCTA said, “We tried to connect with Paytm support staff many times but they are not responding our queries. Objecting on this issue, we got the reply that you can use your Paytm money to pay your utility bills. Now point is, trader can just convert 25000 to its bank account with heavy tax for its own earned money. If someone does 1 lakh business in a month using Paytm, what will he do with rest of Rs. 75000?”

According to ADCTA, initially there was no hidden condition for using Paytm. But when partners have started using Paytm for business, traders are paying extra cost to get their own money. Also, association has advised their approx 2000 members not to use Paytm for their business.