Paytm clarifies on IT partner concerns

In the previous story covered by The DQ Week where IT partners opposed to use Paytm wallet for trading due to lots of changes in policies and hidden conditions is now harassing the IT traders who adopt Paytm for their business. Now Paytm has come-up with their clarification on this issue and took a stand with IT partners.

Previously, IT partners had many concerns regarding using of Paytm running their business. According to IT partners in previous story they said that due to lots of changes in policies and hidden conditions now harassing the IT traders who adopt Paytm for their business.

Also read: IT partners suggest ‘Paytm Mat karo’

In this reply, Nitin Dua, DGM, Customer Support at Paytm said in a candid interaction with The DQ Week, “After demonetization, the charges on sending the money to merchants always been 0%. We are not charging anything as our bank charges are 0% and we have also announced that till January 31 it will be remain 0%. In a recent announcement by Vijay Shekhar Sharma that transfer Paytm wallet to Paytm payment bank will be 0% forever.”

IT partners also said previously that there is a limit to convert the Paytm money into the respective bank account of just Rs. 25000 in a month which is too low for the traders.

Reacting on same, Nitin Dua said, “The limit can be extended to Rs. 1 lakh if the seller has undergone the Know Your Customer (KYC) process. The compliance limit of Rs. 25000 to Paytm wallet to the bank account has not been set by Paytm. This has been set according to RBI. The RBI compliance of Rs. 25000 is not only for Paytm but also implemented for other wallets as well.”

According to Paytm, company will launch new feature in their App in February wherein a customer can become a verified merchant. In future any player any merchant in the organization who have the relevant document can become an unlimited merchant account.