LATEST BUSINESS NEWS – In an effort to streamline the billing process of companies that run on cloud-based digital subscription revenue model, digital wallet company Paytm has introduced an auto-deduct feature by which monthly or annual subscription fees will be directly debited from users’ Paytm wallet.
To enable the service, developers can log on to paywithpaytm.com/developers and download the relevant API to enable the service. After a one-time authorisation by the customer, the subscription amount would be auto-debited from the customer’s Paytm wallet at a given interval.
“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,” Kiran Vasireddy, senior vice president at Paytm.
The platform has also created plug-ins for major e-commerce platforms, including Magento, Drupal Commerce and WordPress. The feature will be useful for digital subscription cloud based companies such as content apps and websites, newsletters, utilities and media companies among others.
Paytm currently has a user base of more than 185 million. It offers a range of payment solutions for online businesses that ranges from deep integration with apps and websites through scaleable APIs and SDKs. (READ MORE)