Fiserv (First Data) - ICICI Merchant Services vs. Paytm

The software which is web-based offers our employees access the portal for reporting, credit card processing remotely. This feature has been very useful during the current Covid environment.

Incentivized

The portal is easy to understand. Anyone can use this payment gateway on their website or app. Small businesses also can use this gateway to accept payments from their customers. Payment notifications are instant and received fund gets settled in bank account without any delay. Provides less payment gateway charges for debit, credit, and prepaid cards where with UPI and rupay payment gateway charges are zero. It has a unique dashboard to monitor transaction details. Available in both web and mobile application.

Incentivized

• Securely stores data on FirstData's servers so that I don't have to worry about the technical details there.
• Integrates well with WordPress and WooCommerce and provides a seamless user experience.
• Allows customers to pay while staying on site, rather than leaving and coming back like PayPal.

Incentivized

• You can use Paytm to purchase from a selection of common items to luxurious items.
• Tickets - Can be used to book tickets ranging from movie/concerts to flights/trains.
• Bills - You can use Paytm to pay bills for your house/electricity/DTH.
• Gifts - You can send gifts to your loved ones using Paytm.
• UPI Transfer - Directly transfer money to another customer's bank account by UPI transfers.
• Metro - Metro cards can be recharged from the app itself helping you beat the queue at metro stations.

Incentivized

• They're too big of a company, each division seems to know only about their own area to such a specific degree that if we make an inquiry about how another division integrates with whoever we're talking to, we're told to contact the other team.
• Constantly finding out there is yet another team that we need to work with to troubleshoot an issue.

Incentivized

• One of the not so convenient things on Paytm is that if there is a connection failure while making a payment, your money is not credited directly to your bank account but rather to the Paytm Wallet, and this money can only be used by the Paytm platform.
• In Paytm, user verification requires a personal visit to their physical offices, this can generate a lot of discomfort among potential users since if we want to use a virtual service it is precisely to encourage time saving.
• You should be very careful when making purchases through Paytm's direct store, since in many occasions there are products of lower quality than the one offered and even fake products, it is better to use it to make payments to third parties and in considered amounts.

Incentivized

Good in-terms of sending reminders on Electricity bill payments and credit card bill payments.

Incentivized

Paytm is highly usable due to its wide range of services, seamless payment structure and user friendly UI support.

Incentivized

Planned outages & downtime window

Incentivized

Slight improvements required

Incentivized

Need slight improvement on issues TAT

Incentivized

First Data is competive on its rate. Quality is acceptable, but not good compared to its competitors mentioned above.

Incentivized

I use Paytm just for the ticket booking system. For most of my daily transactions, Google Pay is the way. Google Pay has provided things very simple and faster. They always focus on a user-friendly env rather than adding everything to the app. They kept the app more simple and more useful.

Incentivized

Easy to integrate

Incentivized

• Our ROI has been very positive
• Our company has been able to process cash receipts remotely
• Our processing charges have been lower

Incentivized

• It decreased checkout time for the user which allowed us to increase user experience.
• Rarely, I used to face issues with transactions. If order got cancelled refunding of money, settling them etc.,
• Since Paytm has link with UPI and I am able to collect money from any UPI applications, using credit or debit card, and internet banking it acted as single stop solution for me. There is no need to have multiple payment gateway options.

Incentivized