An introduction to Paytm, India's payment gateway www.deekpay.com

In India.Payment GatewayMultiple payment channels are available such as debit/credit card, e-wallet, internet banking, EMI or UPI. Below is the main detail about Paytm.

What is Paytm Payment Gateway

A payment gateway is an online service that processes online payments for businesses. It can be integrated into a business's website or application so that the point of sale appears immediately when a consumer makes a purchase. But not all payment gateways are created equal. They may have different fee structures, ease of use, or may not offer relevant payment options. It's best to research which payment gateways offer options that fit the user's clientele, are inexpensive, and are easy for the business owner to use.

If users have travelled to India, it is likely that they have come across people using Paytm. Whether it's sending money, receiving money, paying bills, buying cinema tickets or recharging metro cards, Paytm has become India's largest payment gateway for merchants and customers. They provide mobile payment solutions to over 7 million merchants, while allowing customers to make seamless payments using the app.

Their focus on merchants using mobile technology and the unbanked means that more Indians can use digital payments for their business. So whether a user is starting a business in the kitchen or needs options for their company, Paytm has a payment gateway plan for them.

Paytm Payment Gateway Pricing and Fees

Paytm has 3 different plans available for businesses - Starter, Standard and Enterprise. The Starter plan is best suited for individuals and small home-based businesses. Standard is usually for sole proprietors. Enterprise is for large businesses² with high transaction volumes. Paytm does not charge users for setting up or running their accounts. Instead, fees are charged based on transactions made using the platform. The transaction fees are listed below:

Payment MethodsStarter EditionStandard EditionEnterprise EditionUPI0%1%+GST1.75%+GSTPaytm Payment Bank0%1%+GST1.75%+GSTCredit or Debit Card (Visa, Rupay, Mastercard, Maestro)1.75% +GST1.75%+GST1.75%+GSTInternet Banking1.75%+GST1.75%+GST1.75%+GST

Applicable 18% GST

While UPI and Paytm Bank allow unlimited monthly payment acceptance transactions for all plans, credit/debit cards and internet banking have caps for starter and standard accounts. For the starter version, the user's account is capped at Rs. 20,000 per month; the standard version is priced at Rs. 5,00,000.

Starting accounts can be activated immediately by submitting your PAN card and a valid bank account online. The Standard and Enterprise versions also have documentation requirements for activation.

Paytm Payment Gateway supports multiple payment options for Indian customers:

Paytm Wallet Paytm Postpaid Paytm Payments Bank Debit/credit card (Visa/ Mastercard/ RuPay/ Maestro) NetBanking (for over 50 Indian banks) UPI EMI

The payment methods available for the User's account depend on the plan selected by the User and the documents submitted during the application. The User's customers do not need a Paytm account to make payments to the User using the Paytm payment gateway. While having a Paytm account will help the User's Customers to make payments faster using their Paytm balances or saved bank cards and UPI bank accounts, it is not mandatory.

Paytm International Payments

Paytm International Payments

Paytm payment gateway accepts international cards. However, the payer's card may charge a fee and the exchange rate will be determined by the card company used. The corporate website also features multi-currency payments under certain circumstances, but this service is not part of the regular programme and is only available in limited use cases.

Paytm Settlement

Paytm will credit the User's bank account on the next day. Hence, the total payment received by the User within 24 hours of the day will be transferred to the User's bank account on the next working day. Processing by the User's bank may take additional time and hence please check with the User's bank for the UTR (Unique Transaction Reference) number of the User's settlement. User can check the settlement status on the Paytm for Business app or Paytm control panel.

Some Paytm merchant partners get access to instant settlement. This allows merchants to transfer payments received from customers to their bank accounts at any time. Please contact Paytm for more information on whether this is right for the user's business.

Paytm Customer Service

Paytm offers a number of options to provide support to merchants using their platform. Users can view their in-depth FAQs or if they are an existing user, call them directly on 0120-4440440. Users can also send an enquiry so that they can contact them. The Paytm Business Dashboard will also provide users with tools to resolve any issues.

Atpay - we are a professional provider of payment solutions and have been deeply involved for many years inIndia PaymentsWe have successfully provided payment functions for countless customers at home and abroad. We are fully confident in payment integration and high-risk payment processing, and welcome inquiries and exchanges.