10 reasons why Paytm Payment Gateway is the best choice for online MSMEs
Feb 24, 2022, 14:30 IST
Indian customers shop online for two reasons - convenience and choice. Apart from the comfort of shopping from home, they also demand a myriad of safe, secure and easy-to-use payment modes which can be offered only by a robust payment gateway.
The success of a small online business or merchant depends on the quality of their payment gateway – to a large extent. Without that, a lot of customers might abandon carts and their intent to purchase from the site or app due to payment failures or poor experience at checkout.
This roadblock doesn’t just lay to waste the marketing and branding efforts and expenses of these companies, it keeps them from bringing in repeat customers. It might also lead to negative word of mouth, and even a negative brand image if problems persist.
While a gateway is important, choosing the right gateway ensures good performance, expending little time and effort of promoters. A large number of customers prefer Paytm Payment Gateway for the same, and here are ten reasons why it is the best choice for online MSMEs.
Paytm Payment Gateway offers 99.99% uptime and the best success rates in the industry -. A customer gets to check out without having to try it more than once, and payment failures are almost non-existent. There would be no instance of money being debited and a payment being stuck; or similar experiences that leave customers frustrated.
This gateway is ideal for those gunning for repeat business since it has over 350 million instruments saved — over 250 million saved cards, over 100 bank accounts and 15 million UPI IDs. Customers can merely click and pay instead of entering details every time. Moreover, the gateway uses in-house banking infrastructure, intelligent routing and direct integration which is directly linked to top six banks and 15 bank gateways - bringing in immense speed and reliability into transactions. It can also handle peak loads efficiently since it has the highest processing capacity in the industry at 3000 transactions per second, that’s more than all other major payment gateways put together.
Customers come in all forms and require multiple choices. This statement is truer with online customers. Limiting their choice of payments can frustrate users who prefer a small merchant for their unique offerings. Paytm Payment Gateway offers every popular payment mode be it Credit cards, Debit cards, AMEX cards, netbanking, UPI, Paytm Wallet, Paytm Postpaid, Paytm Payments Bank, EMI and more.
It supports over 100 payment sources and is the only one which allows customers to pay via a fixed deposit.
MSMEs usually work on thin margins. They need to reduce costs everywhere and Paytm PG is about 50% cheaper than others. In fact, it enables UPI and Rupay debit payments acceptance at zero cost. The gateway has a 0% merchant discount rate on UPI and Rupay debit, while other major PGs offer 2% charges. Small businesses can end up saving as much as Rs 1 lakh per annum - which can become valuable investment capital for those who are still establishing their brand and business.
Small online merchants are in constant need of cash for salaries, payments to vendors, sourcing material and more. In fact a lot of them fail due to cash flow issues and Paytm PG offers T+1 settlements even on weekends and holidays, all through the year. This is a cut above the industry norm of T+2 settlements excluding public holidays - wherein one third of the year’s settlements are greater than 4 days and peak delays can go as high as six days, stressing MSMEs.
Paytm PG offers integration with over 30 popular e-commerce platforms and plugins - which is the highest in the industry. Some of them include Shopify, woocommerce, Magento, Opencart, Prestashop, Wordpress, Shopmatic and more.
They allow for smooth and instant integrations, without the need for complicated code or allocating too much technical time and effort.
A unique feature of online MSMEs is a healthy rate of growth. Paytm Payment gateway is complemented by a range of amazing products from Paytm for Business for every stage in a business’s lifecycle. From offering easy loans and credit to support business operations to allowing you to reach more customers through Paytm ads and Paytm mini apps, the Paytm ecosystem has you covered.
Small and new online merchants are viewed with suspicion by their potential customers. Apart from payment failures, customers hold privacy concerns about sensitive payment data.
It uses encryption to ensure robust end-to-end data security, which keeps it secure from possible cyber threats. It’s AI led real-time risk detection and a dedicated team of 200 cyber security experts work to keep data secure.
Paytm PG saves users from the time and effort to go through accounts regularly to see how their business is performing. Built for small businesses that do not have a finance team, the gateway offers a dashboard which provides them a ‘view’ of their performance.
Users can track sales, conversions, success rates and use it to analyse customer spends and understand when, how and how much customers buy. It also helps them view transaction history, access settlement reports, issue refunds and manage user roles and permissions, accordingly.
One in four Indians prefer Paytm PG - that’s 330 million customers. Using this payment gateway will provide the highest odds of customers finding a familiar gateway that they are habituated with.
For more information on Paytm PG visit their Payment Gateway website.
(This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in)
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The success of a small online business or merchant depends on the quality of their payment gateway – to a large extent. Without that, a lot of customers might abandon carts and their intent to purchase from the site or app due to payment failures or poor experience at checkout.
This roadblock doesn’t just lay to waste the marketing and branding efforts and expenses of these companies, it keeps them from bringing in repeat customers. It might also lead to negative word of mouth, and even a negative brand image if problems persist.
While a gateway is important, choosing the right gateway ensures good performance, expending little time and effort of promoters. A large number of customers prefer Paytm Payment Gateway for the same, and here are ten reasons why it is the best choice for online MSMEs.
1. Reliable payments infrastructure that you can bank on
Paytm Payment Gateway offers 99.99% uptime and the best success rates in the industry -. A customer gets to check out without having to try it more than once, and payment failures are almost non-existent. There would be no instance of money being debited and a payment being stuck; or similar experiences that leave customers frustrated.
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2. Supports every popular payment method
Customers come in all forms and require multiple choices. This statement is truer with online customers. Limiting their choice of payments can frustrate users who prefer a small merchant for their unique offerings. Paytm Payment Gateway offers every popular payment mode be it Credit cards, Debit cards, AMEX cards, netbanking, UPI, Paytm Wallet, Paytm Postpaid, Paytm Payments Bank, EMI and more.
It supports over 100 payment sources and is the only one which allows customers to pay via a fixed deposit.
3. It’s pocket-friendly
MSMEs usually work on thin margins. They need to reduce costs everywhere and Paytm PG is about 50% cheaper than others. In fact, it enables UPI and Rupay debit payments acceptance at zero cost. The gateway has a 0% merchant discount rate on UPI and Rupay debit, while other major PGs offer 2% charges. Small businesses can end up saving as much as Rs 1 lakh per annum - which can become valuable investment capital for those who are still establishing their brand and business.
4. Get next day settlements even on holidays
Small online merchants are in constant need of cash for salaries, payments to vendors, sourcing material and more. In fact a lot of them fail due to cash flow issues and Paytm PG offers T+1 settlements even on weekends and holidays, all through the year. This is a cut above the industry norm of T+2 settlements excluding public holidays - wherein one third of the year’s settlements are greater than 4 days and peak delays can go as high as six days, stressing MSMEs.
5. Get onboarded instantly
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Most business owners are bogged down by extensive documentation, but Paytm PG’s 100% digital onboarding process eases the transition without physical documents, and with minimum documentation. After registration is complete, the user can start accepting payments within 24 hours.6. Easy integration with over 30 platforms/plugins
Paytm PG offers integration with over 30 popular e-commerce platforms and plugins - which is the highest in the industry. Some of them include Shopify, woocommerce, Magento, Opencart, Prestashop, Wordpress, Shopmatic and more.
They allow for smooth and instant integrations, without the need for complicated code or allocating too much technical time and effort.
7. Ideal for growing businesses
A unique feature of online MSMEs is a healthy rate of growth. Paytm Payment gateway is complemented by a range of amazing products from Paytm for Business for every stage in a business’s lifecycle. From offering easy loans and credit to support business operations to allowing you to reach more customers through Paytm ads and Paytm mini apps, the Paytm ecosystem has you covered.
8. It’s secure and safe to use
Small and new online merchants are viewed with suspicion by their potential customers. Apart from payment failures, customers hold privacy concerns about sensitive payment data.
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Paytm Payment Gateway ensures security, and complies to all safety regulations. It has an SSL certificate that ensures users’ money is secure.It uses encryption to ensure robust end-to-end data security, which keeps it secure from possible cyber threats. It’s AI led real-time risk detection and a dedicated team of 200 cyber security experts work to keep data secure.
9. Get valuable insights instantly
Paytm PG saves users from the time and effort to go through accounts regularly to see how their business is performing. Built for small businesses that do not have a finance team, the gateway offers a dashboard which provides them a ‘view’ of their performance.
Users can track sales, conversions, success rates and use it to analyse customer spends and understand when, how and how much customers buy. It also helps them view transaction history, access settlement reports, issue refunds and manage user roles and permissions, accordingly.
10. Loved and trusted by customers
One in four Indians prefer Paytm PG - that’s 330 million customers. Using this payment gateway will provide the highest odds of customers finding a familiar gateway that they are habituated with.
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Moreover, large groups and public sector sector leaders like Airtel, Reliance Jio, Vodafone India, IRCTC trust and use Paytm PG to service hundreds of millions of their customers. In fact, many merchants and founders recommend us on peer-review sites.For more information on Paytm PG visit their Payment Gateway website.
(This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in)