What are Real-Time Settlements?
Real-Time Settlement is one of the functions of payment service providers that enables merchants to receive payments from their customers instantaneously into their bank account.
What are the challenges faced in instant settlements?
The most common challenges faced by merchants when it comes to instant settlements are:
- Enabling banks to offer instant payments 24*7 by providing the required rails
- Effectively managing the interbank settlement risk
- Assuring merchants of delivering convenience and confidence to their customers
- Enabling simple integration of new enhancements and value-added services
- Complying with common industry standards
- Minimising set up and operating costs and reduce time to market
How are real-time payments redefining online payments?
Real-time payments benefit merchants, their customers, even financial institutions, and society by offering enhanced visibility into online payments. They enable better cash management and help merchants manage their day-to-day operations better by improving liquidity. Increased liquidity is helpful, especially for small merchants since they do have to wait for days to get their funds settled, thereby improving their cash flows.
Is Real-Time Settlement service available 24*7?
Yes, the Real-Time Settlement facility is available 24*7 365 days, even on holidays.
What are the benefits of real-time settlements?
Benefits of Real-Time Settlements:
- Real-Time Settlements is one of the safest and fastest modes of accepting payments.
- There are no additional charges levied for transactions made via Real-Time Settlement.
- The process is entirely online, and the beneficiary does not have to visit the bank to deposit funds.
- Fund transfers are possible using the net banking service.
- Real-Time Settlement is available on all business days (timings vary from bank to bank).
- Funds are transferred and settled in the receiver’s bank account instantly.
- The facility is available 24*7 365 days, even on holidays.
- There is no credit and settlement risk involved for the recipients since every transaction is settled instantly.
- Offers merchants improved liquidity and enables better cash flow management.
What payment modes are supported by Paytm payment gateway?
Paytm supports the widest range of payment sources, including Credit and Debit Cards (Visa, Mastercard, AMEX, Rupay, Diners), Net Banking from top 50+ banks, UPI, Online Wallets, EMIs (Credit/Debit Cards & Cardless), and Paytm Postpaid.
I sell products to both Indian & international customers. Is Paytm All In One Payment Gateway the right choice for me?
You can accept payments online from Indian as well as international customers using Paytm All In One Payment Gateway. It does not require additional APIs for international payments and real-time currency conversion.
Which type of businesses does Paytm PG support?
Paytm PG is highly valuable for individuals handling small or big businesses, e-commerce shops/apps, local vendors, freelancers, educational institutions, and more.
How is Paytm All In One Payment Gateway different from the Paytm Wallet?
Paytm All In One Payment Gateway helps businesses accept online payments from customers. Thus, it is a service employed by an online business and does not directly account with the end customer. Paytm Wallet is a payment instrument in which customers can deposit money and utilize it on online websites that support the Wallet. Being one of the best payment gateways, Paytm All In One Payment Gateway provides support for various payment sources from UPI to Debit/Credit Cards, Net Banking, Paytm Wallet, Paytm Postpaid, and even EMI.