Paytm to Start Charging merchants 1.99%+GST On QR Code Payment From 20th April
India’s largest digital payments company Paytm announced that company will start charging 1.99% commision and GST on QR code payments from 20th April for all merchants.
Paytm today sent SMS informing all its Paytm merchants, who use Paytm QR code to accept payment from customers that from 20th April 2018 every Payment they receive through Paytm QR code will attract 1.99% commision and GST charges. Currently Paytm is not charging any fees to the merchant for accepting Payment via Paytm QR code.
The text message sent by Paytm to its merchants says,
Dear Merchant! This is to inform that payments collected through Paytm QR code shall be charged a commission of 1.99% + GST from Friday, 20th April 2018 onward.
It is not clear how much percentage of GST merchants have to pay other than 1.99% commision on accepted payment. The latest move by Paytm may dishearten the small shop owners across the country who use Paytm QR code to accept money from their customers.