Paytm opens platform for entrepreneurs for recurring payment services

BENGALURU: Digital wallet Paytm has started recurring billing service for companies which work on a digital-subscription model of revenue. The feature provides services, utilities, and media, among others.

The feature will allow developers and entrepreneurs utilise Paytm as a channel for recurring payments. After one-time authorisation, subscription amount will be autodebited from their Paytm wallet periodically.

“Our easy-to-integrate subscription billing service would make payments easier and seamless than ever before while allowing newage entrepreneurs to offer innovative services at an aggressive pricing. Developers can now have instant access to Paytm’s sandbox and can go live with this frictionless payment flow in no time,” said Kiran Vasireddy, senior vice president at Paytm. Companies such as Gaana, Hotter and Saavn are live with the option to pay through Paytm wallets.

The platform has also created plug-ins for all major ecommerce platforms like Magento, Drupal Commerce, WordPress, and more. The digital wallet player currently has over 200 million wallet users and plans to on-board 1 crore offline merchants on the payment platform by December 2017.