We’ve always done our best to provide you with flexible payment options. We would like to inform you that there are a few upcoming changes that will impact our customers that pay their bills with either a Visa and Mastercard credit card and/or debit card.
Starting November 1st, 2019, Paytm will charge a 1.75% credit card convenience fee on all bill payments and a 1.25% debit card convenience fee on all bill payments for every category. You will not be charged a convenience fee when you make a bill payment using either your linked bank account and/or Paytm Cash, or when you purchase an e-gift card using a credit card or debit card. American Express credit card convenience fees will remain at 3% for all payments.
We’ve always believed that a solid relationship is built on honesty and trust. In fact, we pride ourselves on being transparent with our customers. We’re always asked how we make money, and the answer is simple: we only make money when you purchase a rewards card in our app. We DO NOT make money from your bill payments – we never have, and we will not even with the new convenience fees. Unfortunately, we can no longer absorb the cost of covering these fees, that are charged directly by the payment processors.
While you can still pay your bills with a credit and debit card, we recognize that when you’re paying larger bills like Tuition, a 1.75% and 1.25% convenience fee can add up. If you want to avoid any convenience fees on your bill payments, we recommend using Paytm Cash and/or a linked bank account to make the bill payment. Using Paytm Cash is a great way to avoid convenience fees, get your bills paid quicker AND earn points. Plus, when you pay your bills using Paytm Cash, it will get processed two days quicker than other payment methods. Find out more about Paytm Cash here.
Earn even more points
No matter how you pay your bills, you will still collect 1 Paytm Point for every $1 spent within the Paytm Canada app. As a reminder, there are limits on total number of Paytm Points that you can earn depending on what the transaction is for:
- Utility Bills = 500 points per month
- Tax Payment = 1,000 points per month
- Credit Card Payments = 2,000 points per month
- Tuition = 1,000 points per month
- Other Bill Payments = 500 points per month
*Please note: the monthly limits reset on the 1st of every month
The Most Rewarding App in Canada
As our valued customers, we hope you understand that although credit card and debit card convenience fees for all bill payments have been introduced, we are in no way profiting from these fees. As the Paytm Canada app grows, so does our business model. In order to continue bringing you the rewards you love, multiple payment options for bills (like using a credit card to pay your Tuition!) and a great app experience, changes will happen here and there. However, one thing that will never change is our dedication to providing our customers the best bill payment experience possible.
We truly appreciate your loyalty, and we look forward to continuing to provide you with the most rewarding bill payment experience in Canada. We pride ourselves on being the only app that rewards you for paying your bills, as well as providing you multiple payment options for your bill payments!
If you have any questions about the new changes at Paytm Canada, we encourage you to reach out to our Customer Care team at: firstname.lastname@example.org