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Paytm payment gateway launches UPI subscription services for businesses

‘Paytm Subscriptions’ to enable businesses to collect payments via flexible payment methods

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KOLKATA: Paytm has announced the launch of subscription service for businesses. Named as ‘Paytm Subscriptions’, the service will enable businesses to collect payments from their users via flexible payment methods. The subscribers and customers will be able to choose and pay through their preferred payment option of Patym Wallet, UPI or cards.

Paytm Subscriptions can support different business models and use cases such as free trials with automatic payments, one-time charge with automatic payments as well as flat or variable charging. Merchants can also integrate the payment option for display on a TV screen or in-app purchases. To provide a seamless experience to users, the payment gateway is built with intelligent features such as pre-debit notifications, smart retry, intelligent routing between multiple bank gateways, card expiry notifications, and intelligent error code handling.

Paytm vice president Saloni Malhotra said, "We are excited to launch Paytm Subscriptions, which enables companies to receive periodic and timely payments for their services. Businesses of all sizes can integrate flexible payment options for their subscribers. We have already onboarded several leading online platforms and are expecting to bring in more than 1000 businesses within the next 6 months.

Paytm Subscriptions provides a unique offering to access the largest repository of saved payment instruments - 220+ million Saved Cards, 400+ million Wallets and 100+ milion Saved Bank Accounts. This helps the entire payment process to become faster, with the highest success rate in the industry. Already, popular platforms such as Zee5, Disney+, Epic On, JioSaavan and Gaana, The Hindu among others have started using the service for subscription payments.

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