On Monday, Paytm stated that its payment gateway processes over 400 million transactions a month for its merchant partners. With this record-breaking revelation, it also confirmed the launch of recurring payment features for its merchants. Paytm aims to provide an effortless payment system for subscription-based businesses. This brand-new payment feature enables the consumers to choose from different modes of payment including credit cards, debit cards, net banking, Paytm wallets and more. This automatic billing feature will ease the process of paying monthly payments like grocery purchase, housing society payments, membership fees and more.
The digital payments giant confirmed that their merchant base has increased rapidly due to its payment gateway. This includes instant plug n play offering along with deep merchant platform integrations. Paytm’s payment gateway enables merchants to receive payments through different channels like email, SMS, chat and more. It has claimed that many e-commerce companies like Zomato, OYO Rooms, Swiggy, BigBasket, Grofers, and others have used its payment gateway channels to their advantage.