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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.


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