Running a SMB? Find All Your Payment Problems Solved with the Paytm Payment Gateway

Payment-gateway-for-small-businesses

Running a small or medium-sized business is undoubtedly not easy.

Small and Medium businesses are an integral part of our economy’s foundation.

Amidst the COVID-19 Pandemic and the challenging business environment, Indian small and medium businesses (SMBs) have shown great strength.

They have done so by maintaining growth, creating opportunities for numerous people, and contributing to the country’s development.

However, there are numerous challenges that Indian SMBs face, be it in terms of capital, infrastructure, or insufficient access.

These challenges put industries in challenging situations. Most SMBs fight their way through these various challenges to meet consumers’ demands as they grow while leveraging new technologies.

However, it is essential to note that there has also been no time like the present, where it is so easy for SMBs to take their businesses online and create a digital presence.

There are many advantages to taking your business online.

SMBs with a digital presence grow faster, have access to a larger market, and generate a higher revenue than their offline competition.

As time passes by and we move forward, SMBs need to overcome all barriers in adopting the latest technologies and embracing the possibilities they bring.

This time is where the Paytm Payment Gateway becomes your ultimate solution to taking a step forward by enabling the most sought out digital payments option for your consumers.

What is the Paytm Payment Gateway?

A payment gateway is a payment provider service used by most online businesses; the Paytm Payment Gateway is an example of such a service.

A payment gateway processes payments for any purchases that a consumer makes on your online business platform.

A payment gateway facilitates transactions by transferring essential information such as card details securely between the payment portals & the bank or the processor.

In simple words, an online payment gateway is a digital channel between the customer, merchant, and a bank.

What are some of your most focal features?

The following are some key features of the Paytm Payment Gateway:

Secure and robust payment solutions

  1. Accept payments through all payment sources, including UPI, Debit or Credit Cards, Paytm Wallet, EMI, and Net Banking
  2. Enjoy real-time bank settlements
  3. Stay confident with a solid anti-fraud technology to ensure secure payments
  4. Get access to a robust dashboard to oversee the amounts received, bank settlements, and more
  5. Work with an intelligent routing system with dynamic switching between various gateways and card networks
  6. Let your customers checkout with saved cards for increased success rates

Problem – How do I allow my customers to pay through all payment sources?

Solution – The All-In-One SDK allows your business to access the vast Paytm customer base.

It also provides your business with the ability to accept digital payments on the Paytm payment gateway through every possible payment source.

Additionally, the SDK is lightweight and easy to integrate. It ensures smooth transactions for customers using the app via their saved instruments on Paytm.

The saved instruments feature helps increase the success rate of consumer payments while decreasing their transaction time.

Below detailed is the working of the All-In-One SDK:

Step 1: The customer adds the goods or services in the shopping cart on your app/website

Step 2: They choose Paytm as the payment mode while checking out

Step 3: The Paytm app shows an overlay on the app with the option of express checkout

Step 4: The customer puts in their card/password details for two-factor authentication

Step 5: The payment stands completed

Problem – I prefer neatness and really want my customers to think the payment service is a part of my website. How do I integrate a quick checkout solution and enhance my brand visibility?

Solution – By integrating this customized/blink checkout option, you can start accepting payments within just a matter of hours.

This feature ensures the quick integration of payment solutions, eliminates redirection, and enhances brand visibility with a custom UI and logo.

All of the above ensures seamless integration in just two simple steps:

Step 1: You select your preferences and generate a customized code with a single click.

Step 2: You can now embed this simple code on your website and start accepting payments.

This checkout solution is extremely straightforward to use for consumers.

They only have to add goods to their cart and then click on the option to pay. They can then pay via the Paytm wallet or the other listed payment modes to complete the transaction – all on your website.

Problem – Okay, so you offer great payment solutions, got it. What else can the Paytm Payment Gateway help me with?

Solution – Some of the other numerous features supported are:

  • Collection of payment via monthly installments
  • Convenience fee application for platform usage
  • Allowing customers to make payments via gift vouchers to enhance brand loyalty

Problem – What are some of the most powerful solutions you have for my enterprise?

  • Pre-Authorization: You can enjoy the feature of blocking a fixed amount from the customer’s wallet and then debit later on. Additionally, Paytm tokenization offers a seamless experience.
  • One tap auto-debit: You can enable linking the Paytm account and customer payments through a single tap. Additionally, Paytm tokenization provides a seamless experience.

Problem – Delay in initiating refunds has always been an issue with my current service. How does the Paytm Payment Gateway solve that?

The Paytm All-In-One Payment Gateway offers:

  • Instant refunds for payments via net banking, cards, and UPI
  • Enhanced customer loyalty by making genuine cancellations a satisfying experience

You can initiate refunds for customers in 3 easy steps:

Step 1: The customer gives the refund destination (bank account/payment source)

Step 2: If the bank account option is the preferred option, the customer provides its details

Step 3: The refund amount is initiated and received instantly by the customer

Wow. So how do I get onboard?

You can enjoy the various features of the Paytm payment gateway in 4 simple steps. These steps are detailed below:

Step 1: You have to login/sign-up on business.paytm.com

Step 2: Fill in the business details and provide the URL to the website or the mobile app.

Step 3: Upload the business documents. The business documents mainly include:

  • Company Proof
  • PAN Card Copy
  • Bank Account Details
  • GST Document
  • Authorized Signatory’s KYC
  • Front Photo of the Shop and LOB declaration

Step 4: Next, you have to wait for your documents and the website and/or the mobile app to get verified.

The verification process is entirely RBI mandated. You can read about how to get verified successfully according to the new guidelines here.

Meanwhile, you can generate the Test API Key, to begin with the integration.

For any further details, please go through our Integration Recommendations & step-by-step developer integration guide.

Once we complete the verification, we activate the Paytm All-In-One Payment Gateway for you.

So, I run a startup. Would all of the above Paytm Payment Gateway features still be beneficial for me?

Startups play a massive role in forming the backbone of our economy.

Paytm, having undergone the typical journey of every startup believes in supporting them wholeheartedly. This is where the Paytm Startup Toolkit comes into the picture.

Our startup booster offers a 0% commission on the first 1 Lakh payments collections per month for the first 12 months.

It primarily means that you get to earn what you have worked for without paying any extra surcharge.

There are two ways to earn this opportunity:

  • Coupon Code via Webinars: We hold webinars weekly, and the links are available via the Paytm social media platforms.
  • Coupon Code via Incubators: Numerous incubators are linked with our initiative that provides mentoring and assistance to startups.

To earn one for yourself, you can either fill this form or write to us at buildforindia@paytm.com.

There is no time like the present to hop on into the digital side of the business, and Paytm Payment Gateway can be your ultimate solution to accepting online payments.

So, what are you waiting for? Sign up now and avail all the benefits!

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