The Homegrown payments gateway Paytm has expanded its services and made it simpler for businesses to gather payments via various methods. Dubbed ‘Paytm Subscriptions’, the subscription service for businesses will allow them to collect payments from their users via flexible payment techniques including Patym wallet, UPI or cards, which was announced by the company in a statement on Tuesday.
The subscribers and customers can themselves pick and pay through their preferred option. Along with that through this, customers could make periodic payments for subscription based total services provided. while Paytm had also launched the feature of periodic subscription primarily based on earlier bills, the same became limited to card and bank account transactions to date and has now been extended to UPI as well.
Paytm Subscriptions can support different types of business models and also uses different types of cases such as free trials with automatic payments, one-time rate with automatic payments as well as flat or variable charging,” according to the statement made by the company. In fact, Merchants can now also integrate the payment option so they can now display it on a tv screen or for an in-app purchases.
The payment gateway will also come equipped with features consisting of pre-debit notifications, smart retry, intelligent routing among more than one bank gateways, card expiry notifications, and intelligent error code dealing with for easing payment system. The company is now expecting to bring in greater than 1,000 businesses within the subsequent six months while it has already onboarded several leading online systems such as Zee5, Disney+, Epic On, JioSaavan, and Gaana, among others.
Meanwhile, Paytm’s e-commerce arm Paytm Mall recently suffered a large breach of data after it was targeted by a hacker group. The attacker’s group which is named as John Wick is now demanding a ransom in exchange for the data. The group was able to gain an unrestricted access to their (Paytm Mall) whole databases, which was said in a record on the blog on Sunday by a US-based cyber risk intelligence platform known as Cyble.
