How is Paytm making a fool of the public?

Source Quora 

Raj Hans

Paytm is a con company. Today, I was planning to buy an LED TV. I was browsing through different shopping sites. Subsequently I went to PayTm page and there they were claiming to give 20% cashback on purchase of an led TV . I am attaching screenshots of the same.

Then I chose one of the TVs and went to its product description page. There I found that there was a maximum cashback limit of Rs 4500 on the TV of 53900 Rs. That means in the guise of 20% cashback they were offering around 8% cashback only.

Wait!!! The story does not end here. I thought that since they are offering 20% cashback and as shown in above figure maximum cashback limit is Rs 4500, so if I buy an LED TV worth Rs. 20000, I will get cashback worth of 20% of 20000 viz. 4000 , since 4000 is well under the limit of 4500 as evident from above image.

So, I checked another TV of lesser amount to verify their 20% cashback claim.

But, in that page coupon was different and smartly they reduced the maximum cashback limit to only 1500 rs.and from the image shown below you can see that cashback was hardly 9%, while they were claiming to give 20% cashback to the customer.

Then I cross verified their 20% cashback claim to different price ranges up-to Rs 60000 and above was equally true for other price ranges also. In the pretext of giving 20% cashback they were deceiving customer by giving hardly 7–12% cashback.

Where is 20% cashback Paytm?

EDIT: Now, Paytm has rectified this malpractice. They are giving 20% cashback with no such absurd capping on amount of cashback. “Hail,Paytm!!!”