Paytm is a mobile payment processing app from Indian company One97 Communications.
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2Checkout from Verifone
Score 8.5 out of 10
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The 2Checkout Monetization Platform, now from Verifone (acquired September 2020) is designed to address the complexity of online commerce, subscription billing, and global payments for software, SaaS and online services companies. The vendor says that their solution is backed by: a proven cloud platform, unmatched expertise and a depth of digital commerce services. The vendor’s value proposition is that their solution simplifies the complexities that online merchants face when expanding and…
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Pricing
Paytm
2Checkout from Verifone
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Paytm
2Checkout from Verifone
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
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2SELL - 3.5% + 0.30 EUR per successful sale
2SUBSCRIBE - 4.5% + 0.40 EUR per successful sale
2MONETIZE - 6.0% + 0.50 EUR per successful sale
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.
2Checkout Monetization Platform is well suited for emerging SaaS businesses because along with payment processing, they offer you exposure to Affiliates and make electronic code delivery easy. The dashboard is cumbersome and reporting graphs/options are not easy to comprehend so it might become trouble when the business grows and you want to show it to venture capitalists or any investor/buyer.
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.
It is surreal. Everything feels like they don't really want you to use them. I had to beg them to approve my account because of stupid approval questions. Example: give ONE url where payments will come from. (my payments will come from a page inside my webapp which means absolutely nothing to users who don't have a user in my webapp. I also have many URLs where the users can pay from) Then their API is super complicated to use. I couldn't believe how complicated it is. It is not well explained in the documentation and you have to guess until you understand the underlying logic. I wouldn't use it if I Stripe was available in my country.
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.
I used to sell my software on Avangate and PayPal at the same time. Costs were very similar but I decided to abandon PayPal because it sometimes required human interventions. I also checked DigitalRiver, but it wasn't easy to setup and I never completed all requirements.
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.
