Paytm introduces recurring payment services to entrepreneurs

Paytm's newly introduced recurring payment services feature will allow developers and entrepreneurs to utilise Paytm as a channel for recurring payments.

The newly introduced feature will allow developers and entrepreneurs to utilise Paytm as a channel for recurring payments, it said. Representational Image. Image Source: Official Website

Highlights:

1. The newly introduced recurring payment services feature will allow developers and entrepreneurs to utilise Paytm as a channel for recurring payments

2. Developers can now have instant access to Paytm’s sandbox and can go live with this frictionless payment flow in no time, Paytm senior vice president Kiran Vasireddy, told the newspaper

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3. Companies like Gaana, Hotter and Saavn are live with the option to pay through Paytm wallets

Homegrown mobile payment and e-commerce company Paytm has launched recurring billing service feature for companies which work on a digital-subscription model of revenue, The Economic Times reported.

The newly introduced feature will allow developers and entrepreneurs to utilise Paytm as a channel for recurring payments, it said.

After one-time authorisation, subscription amount will be auto-debited from their Paytm wallet periodically.

According to Paytm, its new feature will make payments at its mobile wallet smoother while allowing entrepreneurs to offer innovative services at an aggressive pricing.

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“Our easy-to-integrate subscription billing service would make payments easier and seamless than ever before while allowing newage entrepreneurs to offer innovative services at an aggressive pricing. Developers can now have instant access to Paytm’s sandbox and can go live with this frictionless payment flow in no time,” the report said quoting Paytm senior vice president Kiran Vasireddy, as saying.

Companies like Gaana, Hotter and Saavn are live with the option to pay through Paytm wallets.

Moreover, the mobile wallet company has also introduced plug-ins for all leading e-commerce platforms like Magento, Drupal Commerce, WordPress, among others.

Paytm, at present, has over 200 million wallet users and it plans to on-board one crore offline merchants on the payment platform by December 2017.

Paytm is a consumer brand of mobile internet company One97 Communications and is headquartered in New Delhi-NCR.

ALSO READ: Paytm withdraws 2% fee for adding money to mobile wallets using credit cards

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