Paytm Launches Recurring Payments Service, Allows Automatic Digital Subscriptions.
Platforms such as content apps, websites, newsletters, utilities, and media companies can now use Paytm’s Application programming interface (APIs), Software development kit (SDKs), and plugins to accept recurring payments from customers at stipulated intervals.
Recurring payments, also known as AutoPay, are automatic payments. Users accessing the platform can authorise developers to collect the total charges from their credit card or bank account every month.
This amount is deducted on the due date of every billing cycle, relieving the user from the worry of late fees. It allows websites and apps to ensure repeated customer retention and increased traffic.
“Our easy-to-integrate subscription billing service would make payments easier and seamless than ever before, while allowing new-age entrepreneurs to offer innovative services at a aggressive pricing. Developers can now have instant access to Paytm’s sandbox and can go live with this frictionless payment flow in no time,” said Kiran Vasireddy, Senior. Vice President, Paytm.
With the help of Paytm, business owners and developers can now use the former as a channel to facilitate regular payments from users for their services. As per Paytm’s website, users can avail this service for processing their phone recharge as well.