Small and Medium businesses are an integral part of our economy’s foundation. Amidst the COVID-19 Pandemic along with the challenging business environment, Indian small and medium businesses (SMBs) have shown great strength by maintaining consistency in terms of growth, creating opportunities for numerous people, along with contributing to the development of the country.
However, there are numerous challenges faced by the Indian SMBs be it in terms of capital, infrastructure, or insufficient access. This puts the industry in a tough situation, wherein the SMBs fight their way through various challenges to meet the demand of the consumers as they grow while leveraging the technology.
There has 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 advantages to taking your business online. SMBs with a digital presence grow faster, have access to a larger market, and generate higher revenue as compared to the offline competition.
As time passes by and we move forward, SMBs need to overcome any barriers that exist in terms of adopting the latest technology and embrace the possibilities it brings. That is where Paytm Payment Gateway can be your ultimate solution to taking a step forward by enabling digital payments for your consumers.
What is a Paytm Payment Gateway?
A payment gateway is a payment provider service that is used by the merchants, Paytm payment gateway is an example of such a service.
These payment portals process payments for any purchases made on online platforms. A payment gateway is available on the website that facilitates transactions by transferring essential information such as card details securely between the payment portals & bank or the processor.
In simple words, an online payment gateway is a digital channel between the customer, merchant, and bank.
Features of a Paytm Payment Gateway
The following are some key features of Paytm gateway:
Secure and Strong Payment Solutions
- The merchant can accept payments through all payment methods such as UPI, Debit or Credit Cards, Paytm Wallet, EMI, and Net Banking.
- The merchant can enjoy real-time bank settlement.
- There is anti-fraud technology to ensure secure payments.
- A strong dashboard to see the payments received and bank settlements, and more.
- An intelligent routing with dynamic switching between the various gateways and card networks.
- The checkout can be carried out with saved cards.
The all-in-one SDK allows the merchant to access the vast Paytm customer base and 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 also ensures smooth transactions for customers using the app via the saved Paytm instruments.
It helps in increasing the success rate of payments while decreasing your customers’ transaction time.
Below detailed is the working of SDK:
- The customer adds the goods or services in the merchant’s app.
- The customer chooses Paytm for the payment mode while checking out.
- The Paytm app shows an overlay on the app with the option of express checkout.
- The customer puts in the second-factor authentication.
- The payment is completed.
By integrating this customized checkout option, the merchant can start accepting payments within a matter of hours. It ensures quick integration of the payment solutions, eliminates redirection, and enhances brand visibility with custom UI and logo.
This ensures seamless integration in just two simple steps:
- The merchant will select his or her preferences and generate a customized code with just a click.
- After this, the merchant can embed the code on the website and start accepting payments.
This checkout solution is easy to use for the customers. They just have to add goods to the cart and then click on the option to pay, after this the user can pay via Paytm or other listed modes, after which finally, the transaction is completed – all on the merchant’s website.
Support of Various Features
The 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.
Powerful Solutions for Enterprises
- Pre-Authorization: The merchant 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: The merchants can enable the linking of the Paytm account and payments in a tap. Additionally, Paytm tokenization offers a seamless experience.
- Instant refunds for payments via net banking, cards, and UPI.
- Enhanced customer loyalty by making genuine cancellations a good experience.
Refunds for customers can be initiated in 3 easy steps:
- The refund destination (bank account/payment source) is given by the customer.
- If the bank account option is the preferred option, the customer provides details for the same.
- The refund amount is initiated and realized instantly by the customer.
Merchant’s Onboarding Journey
The merchant can enjoy the various features of the Paytm payment gateway in 4 simple steps. These steps are detailed below.
Step 2: Now, the merchant fills in the details of the business and provides the URL to the website and/or the mobile app.
Step 3: At this step, the merchant will be required to upload the Business Documents. The business documents 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, the merchant simply has to wait for his/her documents as well as the website and/or the mobile app to get verified. Meanwhile, the merchant should generate the Test API Key to begin with the integration. For any further details, the Integration Recommendations & step-by-step Developer Integration Guide are provided. Once verification is completed, the all-in-one payment gateway is activated.
Paytm Startup Booster
As said before, startups also play a huge role in forming the backbone of our economy. Paytm, having undergone the typical journey of every startup believes in supporting them. This is where the Paytm Startup Booster comes into the picture.
The startup booster offers a 0% commission on the first 1 Lakh payments collections per month for the first 12 months. It means that the merchants get to earn what they have worked for without paying any extra surcharge.
There are two ways to earn this opportunity:
- Coupon Code via Webinars: Webinars are held weekly, and the links are available via the social media platforms of Paytm.
- Coupon Code via Incubators: There are numerous incubators linked with the initiative that provides mentoring and assistance to the startups.
To earn one for yourself you can either fill this Google Form or write to us at firstname.lastname@example.org
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.