Paytm has launched recurring payments for online merchants and the feature will automate collections for online merchants for the subscription services that they provide to their users. Paytm says that recurring payments will be supported on wide range of payment methods.
Read the complete press release below
Paytm, the brand owned by One97 Communications, India’s largest digital payments company is the market leader in the Payment Gateway industry in India and processes 400 million transactions every month for its merchant partners. To further strengthen its leadership position, Paytm has announced the launch of its recurring payment offering for merchants. With this addition, the company aims to equip subscription-based businesses to effortlessly collect payments from their users. Consumers have the option of choosing their preferred mode of payment like Credit Cards, Debit Cards, Net Banking, Paytmproprietary instruments and saved cards on Paytm for automatic billing based on frequency of their subscription. This offering is expected to simplify payments for several growing use cases in India such as Bill Payments, Content Subscription, Grocery Purchases, Membership Fees, Housing Society Payments and a lot more.
Paytm Payment Gateway has rapidly expanded its merchant base with its wide array of payment solutions, right from instant plug-and-play offerings to deep merchant platform integrations. It is focused on driving an intuitive payment experience and easy integration with all third-party platforms. By offering Software Development Kits (SDKs), Developer APIs and secure checkout solutions, it has strengthened businesses, large and small alike to address their custom payment requirements.
The combination of a wide variety of payment solutions along with the flexibility to receive payments through various channels like Email, SMS, Chat and more has made Paytm the country’s pioneering omnichannel digital payments provider. Today, it is the preferred payment gateway for several large online businesses such as IRCTC, Zomato, Oyo Rooms, Grofers, Swiggy, Big Basket and Idea among others.
Kiran Vasireddy, COO - Paytm said, “At Paytm, we continue to invest in innovative technologies to cater to the evolving payment needs of our merchant partners. Frictionless recurring payments is a critical element of subscription businesses and with this feature on our Payment Gateway, merchants can now reach out to millions of users for their subscription offerings. We expect this new feature to benefit both merchants and customers alike.”