Top Payment Solution for Indian Small & Medium Businesses
May 22, 2021

Top Payment Solution for Indian Small & Medium Businesses

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Paytm

Paytm payment gateway and business tools are being used by the Product, Tech and Finance teams mostly. It helps in tracking the various status of payments, reconciliation etc. and also allows Product and Tech teams to keep a check on the payment conversion rates. The good part is that it offers various options for online as well as offline payments such as credit, debit cards, net banking, wallet, and even QR code based payments.

Pros

  • Cashless payment - online and offline (through QR code)
  • Payment analytics to improve conversion rate
  • Easy and automated transfer of payment to bank account
  • Multiple modes of payments to improve conversion rate
  • Good UI and UX of payment gateway

Cons

  • Wallet limitations of 10-20 thousand per day
  • At times the scan doesnt work well, like it fails to identify the QR code
  • Registration on paytm is required for the user to use this payment gateway which is a time taking process
  • One PG for both online and offline payments
  • Analytics for payment conversion funnel
  • Multiple modes of payments in one PG like credit/debit card, Net banking, wallet, etc.
  • It has helped us improve conversion rate for both offline and online transactions
  • It also allowed us to club some discount offer for our users which led to high conversions
  • No negative impact for us at least
It's a much better solution for the Indian ecosystem as it solves for more of the domestic use cases and problems. It also offers the PG in Hindi which is the local language, that helps for Tier 2/3 city users. It also has offline payment through QR that other PGs dont offer.

Do you think Paytm delivers good value for the price?

Yes

Are you happy with Paytm's feature set?

Yes

Did Paytm live up to sales and marketing promises?

Yes

Did implementation of Paytm go as expected?

Yes

Would you buy Paytm again?

Yes

It is being used very well especially for offline modes of payment where cashless transactions are preferred. It offers multiple modes of payment options and easy automated bank transfer of balance amount in the merchant's wallet. It is not bvery well suited if the offline or online transaction daily volume is very high due to its limits on daily payment amount as well as on very high scale of over 100K daily transactions it tends to result in higher failure rates. But for all small to medium businesses, it is the perfect solution.

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