After two years of online hosting, YourStory’s flagship startup-tech event TechSparks 2022 was hosted offline at the Taj Hotel in Yeshwantpur, Bengaluru. The three-day event was held from 10 to 12 November 2022.
Paytm Payments Services also participated in the 13th edition of India’s most influential startup tech event.
Beginning the talk session, Nakul Jain, CEO & MD of Paytm Payment Services, shared his views on the importance of startups to the payments business.
“The fact that we are here at this event shows that the startup community is really important to us. As we see the journey of the Indian ecosystem, many of the people who came this year are our enterprise customers and were our startup customers two years back.
I see a lot of companies over here that will scale up to become enterprises in the future. So, I genuinely believe that this is one place where we want to invest and build a strong community. And we got a lot of confidence today when we saw such a huge vibrant set of people over here.”
He also engaged with startups in insightful discussions on scaling startups by leveraging omnichannel payments.
Here’s a quick recap of the points discussed:
1. Embrace Omnichannel Payments Solutions
Nakul opened the discussion by emphasising the importance of omnichannel payments in any startup’s journey to success.
“Businesses no longer have the luxury of being exclusively online or offline. They need to have an omnichannel presence. At the heart of this is the payments technology, and that’s where Paytm’s one-stop online and in-store payment solutions can add value.” – Nakul Jain, CEO & MD, Paytm Payment Services
The modern-day consumer may search for a product online but buy it from an offline store when out and about.
He may pay for it using UPI, debit card, credit/digital wallet, choose the buy now, pay later option, or pay in monthly instalments for a big ticket purchase. Hence, startups need to be prepared to accommodate the ever-changing buying behaviour of their consumers.
Here’s how Paytm can help startups leverage omnichannel payments
- Integrate the robust online payment solution, i.e., Paytm Payment Gateway
- Enable a wide range of offline payment solutions, including Paytm Smart POS and Paytm QR
- Offer a seamless payment experience across online and offline payments by leveraging the Paytm ecosystem
2. Offering Exclusive Affordability Options to Consumers
Paytm offers a range of payment solutions that can enable affordability for consumers and boost sales for startups.
“Affordability plays a strong role in driving last mile purchase. Our affordability suite, which includes Paytm Postpaid, EMI, and more, can be a strong lever that startups can use to grow.” -Nakul Jain, CEO & MD, Paytm Payment Services
Here’s how Paytm can help startups enable affordability for their consumers:
Paytm Postpaid: With Paytm Postpaid, startups can allow their consumers to buy now and pay later, encouraging them to see through their purchases.
EMI: Paytm can also enable EMI as a payment option for startups allowing their consumers to convert their purchases into easy equal instalments.
Furthermore, these tools offer consumers a seamless checkout experience, resulting in fewer cart dropouts.
3. Explore New-age Customer Acquisition Tools
To acquire new-age customers, startups need to turn to new-age customer acquisition tools.
“A key pain point for startups is how to grow their customers. We have a powerful platform, the Paytm app, with over 80 million+ active users, where startups can advertise and acquire customers using Paytm Ads, deals, and gift vouchers.” – Nakul Jain, CEO & MD, Paytm Payment Services
Here’s how Paytm can help startups expand their consumer base:
Paytm Deals & Gift Vouchers: Allows startups to engage with new and existing customers, converting store visitors into loyal customers and driving sales.
Paytm Ads: Startups can run targeted brand discoverability campaigns with Paytm and reach 300 million+ Paytm users, 20 million+ merchant partners, and 150 million+ monthly active users.
4. Leverage the Paytm Incubator Center (PIC)
Every startup needs all the support it can get during the initial years, and choosing a payment partner is among the crucial decisions one has to make.
Also, Paytm has established the Paytm Incubator Center (PIC) to make life easier for startups. It includes a toolkit to help startups start their journey from offline to online.
“We are invested in growing startups for the next decade and beyond. That’s why we don’t charge platform fees on Paytm Payment Gateway. Paytm Incubation Center also offers a startup toolkit with exclusive offers on our entire product range.” – Nakul Jain, CEO & MD, Paytm Payment Services
Paytm is currently offering exciting rewards and early discount offers for startups to make the most. It is above and beyond the zero platform fee that the largest payment brand in the country is offering to startups.
To avail these offers and leverage the Paytm Incubator Center (PIC), you can get in touch with us here.
5. Understanding the Consumer Payment Behaviour
Understanding consumer payment behaviour is critical for startup success. They can use this information to make better business decisions and, in turn, build stronger relationships with customers.
Businesses can better meet the needs and desires of their target market by discovering the payment methods most preferred by customers and how frequently they use them.
“We offer Paytm Analytics which helps merchants to get an in-depth insight into where their customers are, what demographics they fall under, etc. We also have a very intuitive dashboard that can help startups get an MIS or the data in the form they want. As I said, we can integrate online and offline transaction data in a single platform. And this can genuinely help them get payment MISs reconciled faster.”- Nakul Jain, CEO & MD, Paytm Payment Services
Here’s how Paytm can help startups understand consumer behaviour better:
Paytm Payment Analytics: It is not only large corporations that can turn data into profits. Startups can conveniently uncover in-depth insights about their businesses and drive results with Paytm Payment Analytics.
Startups can stay on top of their primary business activities by studying business analytics reports on payment sources, payment flows, and customers so that our analytics tools can churn out within seconds.
Aside from that, they can learn how good their business website and/or app is at converting visitors into customers. Startups can accelerate growth by implementing actionable insights from these reports.
On a Concluding Note
TechSparks 2022 ended on November 12, 2022, and our booth at the event saw an overwhelming footfall.
However, the opportunity to partner with and avail exciting benefits by associating with the largest payment brand in the country still stands. All you need to do is –