Paytm has often been credited as one of the first companies in India to pioneer the digital payments ecosystem. One of the few successful payment methods was the introduction of the QR code. This method allows users to scan a small billboard to pay the desired amount through Paytm.
Company founder Vijay Shekhar Sharm tweeted a picture of the first store to adopt the company’s QR code payment method. The tweet from Kumar Aditya, the senior vice president of Paytm QR Business claims that it was the first QR-enabled store in India. Sharma, in response to the tweet stated, “Every revolution has a humble beginning.” According to the tweet, the technology was first adopted by this store in September 2015.
Recently, Paytm announced the launch of its subscription service for companies across the country called ‘Paytm Subscriptions’. The service will allow companies to collect payments from their users through flexible payment methods.
Subscribers and customers will be able to choose and pay through their preferred payment option of Paytm Wallet, UPI or cards. Paytm subscriptions can support different business models and use cases, such as free trials with automatic payments, one-time charge with automatic payments, and fixed or variable charge.
Merchants can also integrate the payment option to display on a TV screen or in-app purchases. The gateway is built with features such as pre-debit notifications, smart retry, smart routing between multiple bank gateways, card expiration notifications, and smart error code handling.
According to the company, popular platforms such as Zee5, Disney +, Epic On, JioSaavan, and Gaana, among others, have started using the service for subscription payments.
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