Paytm launching new in-app payment features for merchants
Description
Especially, Paytm Payments Services Ltd. provides existing online merchants with access to the Paytm UPI SDK, which is powered by Paytm Payments Bank’s technology.
Introduction
To begin with, the heartiest welcome to all our regular viewers to read our articles patiently. Similarly, in this article, you will read about the Paytm launching new in-app payment features for merchants and some more facts about it.
Further, we are very glad to give you the information regarding Paytm’s owner, One97 Communications Ltd, announcing the availability of the Paytm UPI SDK. In this case, according to a release from Paytm, this new functionality enables clients of online retailers to make UPI payments directly. In addition, in-line from the retailer’s mobile app without being diverted at checkout. Please read this article through to the conclusion for extra information accordingly.
About Paytm launches new in-app payment feature for merchants
In summary, Vijay Shekhar Sharma, a first-generation businessman, launched Paytm (short for Pay Through Mobile) in Noida in August 2010. Particularly, One97 Communications, a mobile Internet business that Vijay founded in 2001, is the parent firm of Paytm.
In short, customers may enjoy 4X faster UPI payments with the help of the Paytm UPI SDK. Especially. a big thanks to a 5X decrease in taps and a 100% removal of any external redirection. Although, it requires users to switch between merchant and payment applications to complete transactions. Consequently, users will get facilitates by fewer clicks, quicker transactions, much higher success rates, and higher client retention, according to the business.
In short, introducing Paytm UPI SDK, a leading breakthrough for companies! Therefore, say goodbye to redirections and give your consumers the option of faster payments. Finally, your users can make UPI payments with only one swipe without ever leaving your app.
Under the current UPI acquiring agreement between Paytm Payments Services Ltd. and Paytm Payments Services Ltd., Paytm Payments Bank .offers UPI acquisition services to merchants. Similarly, the same approach applies to the additional functionality of this UPI SDK.
However, the SDK will soon support new payment options like UPI LITE and UPI on Rupay Credit Card. In addition, UPI gives users more freedom without requiring any further integrations, according to Paytm.
Although, for our user base and merchant partners, we’ll keep delivering the most cutting-edge payment options. Further, streamlining the online payment flow was essential for businesses because UPI is one of the most widely used payment systems. However, our existing merchants can now accept payments directly on their app thanks to our innovative Paytm UPI SDK.
Therefore, the removal of the redirection to a bank website or another payment app increases transaction success rates and guarantees that users get payments without interruption, according to Nakul Jain, CEO of Paytm Payments Services.
One of the many recent features Paytm has implemented is this one accordingly. A ‘next-generation’ UPI card with the Rupay network was introduced by the corporation last week. Before that, Paytm Payments Bank announced several new Paytm UPI launches.
Key factors Paytm launching new in-app payment features for merchants
| Name of the topic | Paytm launching new in-app payment features for merchants |
| Paytm | Pay Through Mobile |
| Parent company | One97 Communications |
Users benefits
Simple tracking
You must be a merchant who processes hundreds of consumer payments each day accordingly. How do you handle tracking payments or a specific payment? In brief, you can check if you have received the money by logging into your Paytm for Business account from a computer or mobile device.
Process stabilisation
Liquidity crunch is a common issue faced by merchants, but Paytm Payment Gateway offers the fastest settlement time. The Paytm for Business app is a convenient tool for manually transferring money from merchant accounts to bank accounts, accessible from anywhere. To find received payments, select the date period and choose “Transfer to bank.”
Link up Paytm Payments
There is no tool more straightforward than Paytm Payment Links if you’re seeking an overly straightforward way to collect payments. Customers may pay for it with ease, and it is simple to produce and spread.
The simplest approach to send payment reminders and also collect money from clients is through Paytm Payment Links.
On-the-go refund processing
One of the fastest and most efficient refund processes in the market is provided by the Paytm Payment Gateway. It’s in your best interest as a business owner to provide your consumers with a refund as quickly as you can. As a result, customers will have more faith in you. The fact that your return policy is open and straightforward and that you issue refunds promptly encourages customers to make future purchases from your website.
Purchase QR Codes
Use the Paytm for Business app for retail locations, as it offers various capabilities and is easier to use on a phone than a PC. The app also allows you to order QR codes for your new store and activate them directly from the app.
FAQs (Frequently Asked Questions)
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