India's mobile wallet companies have a knack for being in the news. Just a day after Vijay Shekhar Sharma led market leader Paytm said it will levy 2% fee for adding money to the wallet using credit cards, arch-rival MobiKwik has announced that it will continue to offer "free" uploading of money to its wallet, including from credit cards. 

"In order to popularize the government’s vision of a cashless society, we at MobiKwik have decided not to charge 2% on credit card recharges so that more people can transact online without having to worry about additional charges" - said by Bipin Preet Singh, MobiKwik founder and CEO. 

The process removed the transaction cost for customers. Paytm does not charge any fee to transfer money into bank accounts from the wallet. 
 

Some financially savvy users (surprisingly many of them employees of national financial institutions) exploited this model to rotate money. This may surprise normal users like most of us but for a savvy user, it meant freebies at Paytm’s cost. 
 

However, the company also said it will provide the same amount of cashback for using credit cards to top-up the wallet. After demonetization in November Paytm had introduced zero percent platform fee to attract small merchants. 

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