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Paytm has been widely implemented in organizations as a payment solution, allowing them to accept payments from customers instantly and …
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What is Paytm?
Paytm is a mobile payment processing app from Indian company One97 Communications.
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What is Paytm?
Paytm is a mobile payment processing app from Indian company One97 Communications.
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What is Paytm?
Paytm Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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Paytm has been widely implemented in organizations as a payment solution, allowing them to accept payments from customers instantly and with a higher success rate. Customers can use various payment methods like debit/credit cards, prepaid cards, UPI, net banking, and the Paytm wallet on the platform. This versatile application has proven to be highly useful for users, offering features such as recharge, ticket booking, money transfer, UPI integration, and integration as a payment gateway for software and applications.
One of the main use cases of Paytm is increasing sales for businesses by providing an easy payment solution for services and allowing customers to pay all types of bills on its platform. The payment gateway feature enables businesses to create QR codes for instant payment acceptance with notifications. Moreover, Paytm has helped organizations build a digital and cashless economy by easing payments to employees and offering easy account opening with Paytm bank accounts. It has also been used by non-profit organizations for receiving and tracking payments from customers for products and events.
The mobile wallet feature of Paytm is highly valued by users, as it allows them to make digital payments conveniently and securely. Many individuals use Paytm for personal accounts and payments such as UPI or bank transactions, train and bus ticket booking, and making online purchases. It is frequently used for day-to-day transactions, providing a convenient solution for making payments to small vendors who do not have point-of-sale machines.
Businesses also leverage Paytm's versatility as a payment gateway service in partnership with Razorpay pay. It offers multiple payment options such as UPI, credit card, debit card, and Paytm wallet services. E-commerce websites have integrated Paytm as a payment gateway due to its usefulness and the availability of useful documentation and video instructions for developers.
Overall, Paytm is trusted by users as a reliable option for quickly sending and receiving money securely with its 128-bit encryption SSL security. Whether it's organizing events, sending gift cards, settling informal lunches, or paying office expenses like electricity bills, Paytm proves to be a versatile and convenient platform for various financial transactions.
Diverse Payment Options: Users have found the payment options offered by Paytm to be diverse, with multiple options available for making payments. This has been mentioned positively by a significant number of reviewers, indicating that they appreciate the flexibility and convenience provided by Paytm.
Low Payment Charges: The low payment charges of Paytm have been appreciated by users, as it allows them to save money on transactions. Many reviewers have specifically mentioned this aspect in their feedback, suggesting that they value the cost-effectiveness of using Paytm for their payments.
Instant Settlement of Funds: Users are impressed by the instant settlement of funds to their bank accounts when using Paytm. Several reviewers have highlighted this feature, indicating that Paytm provides a fast and efficient payment system. This quick processing time has contributed to a positive experience for many users.
Customer Support Quality: Some users have mentioned that they are not satisfied with the customer support quality on Paytm. They have experienced delayed responses or sometimes no response at all, which has affected their overall experience.
Inconvenient Verification Process: The verification process on Paytm requires users to visit physical offices, which can be inconvenient for those who were seeking a virtual service to save time and effort.
Poor Product Quality on Paytm Mall: A number of users have reported receiving poor quality or even fake products from sellers on Paytm Mall. This has resulted in a negative customer support experience as users struggle to resolve issues related to these purchases.
Users recommend Paytm for its reliability and accessibility as an app for digital payments. It is highly recommended for small and medium businesses to easily receive payments. Paytm is also praised for its excellent success rates for UPI payments and its secure payment gateway. Many users also appreciate the cashback deals offered by Paytm.
Another common recommendation for Paytm is its user-friendly platform and easy direct bank settlements. Users appreciate the easy setup process and the fact that there are no charges for small and medium businesses. Paytm is considered a great application with a vast amount of features available, including easy download of transaction reports and adding users to the company.
Furthermore, users highly recommend Paytm for its secure and error-free transactions, as well as its wide availability and popularity. It is regarded as a trustworthy and reliable platform for both offline and online stores. Users also appreciate the simplicity, flexibility, and tight security features provided by Paytm.
Overall, Paytm is seen as a reliable, accessible, and user-friendly app that offers secure transactions, great success rates, and a wide range of features. It is highly recommended for businesses of all sizes, as well as individuals looking for a convenient and secure method of payment.
Reviews
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March 24, 2022
Great tool for small business e-commerce
We are a non-profit org selling souvenirs and events. We found it difficult to receive and track payments from our customers. Now we use paytm to receive payment from customers for the products and events we sell.
- Helps send payment QR code to customers easily from mobile device
- Helps track payments and let's us process orders against payment
- Enables UPI payment better than other prividers
- Would like a billing feature that can help send bills to customers
- Feature to include a link to send payments
- Customer support is an area of improvement
- Ability to send QR code for payment
- On time alerts for payment receipt
- Ability to do all transactions on mobile device
- Our payments from customers were done quicker than other methods like bank transfer etc... helping us sell more souvenirs
- Customers were happy to use a mobile device payment methods such as UPI
Paytm doesn't charge a fee for payment gateway. Provides UPI capability for mobile payment making it easy for customers.
2
Fianance, sales & marketing
March 24, 2022
Best Payment Gateway to use for E - Commerce businesses
I use Paytm for my transactions as well as the payment gateway for collecting payments from people. To be honest I haven't faced a lot of problems with Paytm. I have good experience in developing and working with this kind of technology. So, I haven't faced any issues. I would like to appreciate the User Interface design of Paytm.
I have used Paytm in an e-commerce website as a payment gateway I found it very useful but I faced some problems, I was able to solve them but I have got to do a lot of research. As a developer, I like documentation of Paytm it's very clear and with video instructions.
I have used Paytm in an e-commerce website as a payment gateway I found it very useful but I faced some problems, I was able to solve them but I have got to do a lot of research. As a developer, I like documentation of Paytm it's very clear and with video instructions.
- Payment Gateway
- Security
- Rewards
- International Payments.
- Auto Pay and repetitive payments
- Splitting money between group of people and sending them in one click.
- Payment Gateway
- QR Payment.
- Connectivity with UPI.
- 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.
- Razorpay Payment Gateway, Stripe and PayPal Payments Pro
I like documentation of Paytm when compared with others. This allows me during development and solves any issues if raised. Coming to Razorpay, I have faced a lot of issues with it regarding transactions.
March 22, 2022
One of the top reimbursement and payment solutions.
We currently use Paytm in 2 ways - 1. Personal accounts and payments 2. Company rewards and reimbursements 1. Personal usage comprises of using Paytm to pay for road tolls, groceries, and for shopping 2. My company uses Paytm to disburse rewards and any reimbursements. Any reimbursements such as lunches, travel, work-related purchases are handled via Paytm. This is integrated with the company HR software for automated disbursement of amounts.
- Large number of places that accept paytm for payment.
- Seamless integration with most e commerce and shopping sites.
- Direct linkage with bank account for easy money transfer.
- Simple and easy to use interface in the mobile app.
- Paytm ecommerce / mall can have a wider range of products.
- Paytm travel bookings can be more seamless.
- Paying using QR code can have fewer steps.
- Lunch reimbursements.
- Disbursing rewards.
- Integration with HR suite.
- More than 50 man-hours were saved when we moved away from Sodexo and switched to Paytm for monthly food reimbursements. HR takes less time to process this than in the past.
- Integration with HR suite makes processing easy.
Paytm is much better than Sodexo due to the wide array of use cases. Also, we need not carry a physical card in the case of Paytm. Additionally, Paytm is accepted in many more places than Sodexo.
June 17, 2021
Well suited for e-commerce product selling
Paytm is the best payment gateway in India, as it is providing the best customer support and zero transaction fees. The transaction is very safe with excellent uptime. If you are a startup and want a good payment gateway with a very little transaction fee, Paytm is the best choice for you. Paytm offers multiple payment options on both online as well as physical merchants through the digital wallet and QR-based mobile payment.
- Low transaction fees compared to competitors
- International transaction allowed at over 50 banks
- Payment through QR code and mobile wallet
- No telephonic support
- Higher transaction fee for credit card
- International payment modes are easy
- E-commerce-ready functions
- Easily integrated with WooCommerce
- QR-based mobile payment
- Easy payment gateway setup
- Improved conversion rate
- Allow to direct payment and direct checkout
Amazon's payment gateway has a higher transactional fee. For the Indian region, Paytm is the best solution for your e-commerce store, and QR code scan is very easy.
February 04, 2019
Master of All.
Paytm has provided its gateway to be implemented on websites or apps with the help of the SDK provided. Vendors can collect payments from Paytm in the company Paytm wallet or the account. Paytm provides an option for customers to pay using the Paytm wallet itself, or other options such as credit card, debit card or net banking.
- 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.
- Customer support - Customer support can be improved with detailed answers to your queries.
- Development support and community - Can be improved by code reviews in place.
- Paytm deducts a lesser percentage of commissions per transaction compared to other competitors giving you better margin on the profits.
- The vendor area is good. This is where you can sell your own products in the Paytm app.
- Gives cashback for new vendors helping them grow their business.
Paytm is widely used across my country. The penetration rate of this product is highest amongst the competitors, leading to its easier acceptance from a local seller to a premium seller. It was the first one to introduce the UPI transfers making it pretty easy for non-Paytm customers to accept the payments from the ones having Paytm wallets.