Today, PayTm Rolls out Recurring Payment Service for Online Merchants. Via this service online merchants can now receive automatic payments for subscription based services they provide to their customer. PayTm claims that right now they are providing approx. 400 millions of monthly transactions via its payment gateway. It makes it a competitor of different online payment gateways in India like BillDesk, Razorpay, PayU, CCAvenue and others.
Rolling out a recurring payment service is necessary for a platform like PayTm as the trend of online payment is shifted towards subscription based model. Talk about any popular online service, their you find subscription based payment model. On one side with this facility many online merchants can now integrate this service via PayTm, while on the other side users will able to rely on PayTm’s high speed servers.
PayTm providing Software Development Kits and API to the Online merchants which will help them to setup this service on their platform. These platforms could be anything like Website, Apps, and other things.
If you look closely this year PayTm focus more on bringing Financial services as you can see recently PayTm rolls out credit score check facility for free.
One more thing you notice that with this service PayTm increase its user base but now from merchants category.
Read also: You can now check Live Train Status on PayTm
