India has seen a boom in startups in the last few years. Post demonetisation, a lot of Indians got comfortable with paying online. In the earlier days, online payment meant entering your card details or logging into a bank account and hopping between multiple web pages and authentications. As a result online payment uptake wasn’t that great even from the merchants as consumers were reluctant to go through all those steps to make a payment. Micro-payments were out of the question as there was no infrastructure to take care of such small amounts. It has been close to four years since paying online has become more mainstream.
At Paytm, we anticipated this trend and had already had a Paytm Payment Gateway ready early on. In the last three years, it has seen a 24x growth in its usage and there is always an upward trend in its uptake. As more small and medium businesses get online in the post-COVID world we are living in, Paytm Payment Gateway is now even more relevant. Having been around for more than half a decade Paytm is well-versed with the problems encountered by Indian businesses. Being an Indian startup, Paytm is also familiar with issues only Indian customers can face when interacting with businesses and offers local solutions.
Paytm Payment Gateway is trusted by apps and services that are quite well known and it is used across verticals. This gives us a robustness across verticals that’s second to none.
Some of the popular names using Paytm Payment Gateway include Zomato, Swiggy, Uber, Titan, IRCTC, Bajaj Finserv, Idea, Vodafone India, Jio and many more. With such big names trusting Paytm Payment Gateway for their day to day operations, there is no doubt that it holds immense value for the businesses, big as well as small.
If you are a small and medium business still unsure of whether Paytm Payment Gateway is for you, here are testimonials from established brands on certain key aspects of Paytm Payment Gateway which will justify why you must consider Paytm.
Paytm Payment Gateway operates across multiple business verticals
Paytm Payment Gateway is business-agnostic. Thanks to big players in segments as varied as Food, Travel, Telcos, Hyperlocal, Gaming/Entertainment, BFSI, among others using Paytm Payment Gateway, it matters little which business vertical you operate in. The breadth of Paytm Payment Gateway will ensure that you or your customers don’t have to radically change your online behaviour to adjust to this gateway. This is aided by Paytm’s easy onboarding process.
“Onboarding experience for Playship was good and the Paytm integration was handled swiftly. What we like the most is that the integration team is supportive and responds quickly to technical queries,” says Amit Grover, VP Marketing at Playship.
If you are a small and medium business not integrating Paytm Payment Gateway because you think you wouldn’t know the technicalities behind it, you have nothing to fear. As a Paytm Business merchant, you get 24×7 support from Paytm.
92% success rate for UPI payments and a mere 0.04% technical failures
One of the advantages of Paytm having its own payment gateway, banking services as well as UPI means that there is a seamless integration between these three services which has led to 91.66% successful UPI transactions and a mere 0.04% technical rejection at the acquirer. Thanks to Paytm’s direct integration with the top six banks, 15 bank gateways, there is a drastic reduction in transaction time, manual inputs and dependency on mobile networks. From a customer perspective, this improves the customer experience and will ensure a stickiness factor.
Vipul Parekh, co-founder BigBasket, says, “We highlighted a user drop-out issue to Paytm in the normal check out process using a Paytm wallet and were delighted when Paytm proposed the “One-click Checkout” product. We have observed a decrease in our user drops in the checkout process post this integration.”
That’s one of the advantages of going with Paytm. If your business presents a unique use-case, Paytm will work with you to make a customised payment solution to improve transaction rates.
The customer has ten varied options to pay from
Unlike some of its rivals, Paytm does not pigeonhole the customer to pay only via limited options. That would defeat the purpose of making things seamless from a customer’s perspective and make things counterproductive for your business. With Paytm Payment Gateway customers have around ten options to pay from. These include:
- Paytm Wallet
- Bank account via UPI
- Debit or Credit cards
- Net Banking
- EMI Option on cards
- Paytm Postpaid
- Paytm Payments Bank
There are also special scenarios where you have the option of spending from a few closed wallet options offered by Paytm. This can be helpful for employees where some segment of the salary could be credited to these wallets.
- Closed wallet for Toll Payments
- Closed wallet for tax-free meal allowance
- Closed wallet for tax-free gift allowance
Suhas AR, Marketing Manager at Career Launcher is impressed with this facility. “Paytm has helped us in providing all kinds of payment options for wallets to credit cards supporting all cards from Rupay to Amex. This has helped us grow our online business immensely,” says Suhas.
Simplifying checkout process with a lightweight software development kit
Paytm offers a lightweight software development kit that can be added atop your app. After the customer adds the goods and services on the app and selects ‘Pay with Paytm’ on the checkout page, the customer is presented with an overlay with quick checkout methods on your app. After entering the second-factor authentication key the payment is completed successfully. As a business, you can even customise the checkout experience to further speed up checkout without hopping in and out of different webpages. Paytm offers businesses ways to customise this experience with a two-step process.
Here’s what Kunal Chourasia, product head, Cure.Fit, has to say about using Paytm’s Payment Gateway, “Paytm has been the preferred Wallet and Payment Gateway for cure.fit from day one. Their focus on improving the success rate and reducing the time to complete payments, makes them stand out.”
Powerful Merchant Dashboard gives a great visual report card
Gone are the days of pouring over Excel sheets to monitor your business performance. Paytm offers a Merchant Dashboard which gives key business metrics in a visually pleasing manner. You can track sale conversions, success rates as well as analyse customer spends and understand when, how and how much customers buy. Things you can do with the dashboard include:
- Creating payment links
- Disbursing funds
- Viewing transactions
- Generating invoices
- Settlement reports
- Issuing refunds
Naveen Phulwani, India Head – eCommerce Group at Titan is a big fan of Paytm’s dashboard. “Titan Group uses Paytm as a preferred payment gateway, their powerful dashboard power payments at scale, and also a very dynamic and real-time analytics dashboard panel, a first-of-its-kind feature that allows automated reconciliation and smooth function of refunds instantly,” says Phulwani.
Lohit Gupta, Head – Marketing Alliances, Grofers, also has immense praise for the dashboard. “Paytm’s powerful dashboard provides end-to-end automated reconciliation and settlement reports. We also work closely to provide innovative campaigns for our users. We are delighted to have Paytm as our leading payment partner,” says Gupta.
As seen above, Paytm Payment Gateway comes highly recommended by industry leaders and thanks to its vast repertoire, Paytm is on top of any kind of issues, technical or otherwise, that you could anticipate on your product. The many years of experience put Paytm in the driver’s seat as far as Payment Gateways are concerned.