No Credit

Credit cards get heavy for wallets

Credit card users found unintended ways of using a mobile wallet, and for Paytm it cost a pretty penny


Of late, businesses have gone all out to woo customers with cashbacks, discounts and personalised notes. But when some customers tried to pull a fast one on them, a few companies indicated that they wouldn’t take it lying down. Vijay Shekhar Sharma, founder and CEO of Paytm, the largest mobile wallet company in India, sent that message last week when he tweeted that Paytm would block users from using the wallet if they misused it.

Sharma was referring to credit card users, and he wanted to do no business with those who gamed the system.


To access this content, you must purchase Monthly Recurring or Quarterly, or log in if you are a member.

Read the full story now. Subscribe to The Ken

Stories on The Ken are available only for its subscribers. Join us now to get instant access.

Have an account?

Related stories

More stories in /Reportage & /Startups

See all in Reportage & Startups

This story is exclusively for premium subscribers. Subscribe now to get access.

Read the full story now. Subscribe to The Ken

Why should I pay for reading your stories?

Lots of effort We go to lengths to put in time and resources required to get the most factual, honest stories out there.

Advertising independent Our primary allegiance will always be to our readers. We won't be swayed by our advertisers and investors.

We can't do all of this by giving away our journalism for free and selling our readers by the thousands to advertisers.

Get premium access