Paytm Payment Method

Paytm for Business is an Indian e-commerce payment system and financial technology company, based in Noida, Uttar Pradesh, India. It is the fastest & easiest way to collect payments from customers.  Paytm has been on a mission to support new and growing businesses across the country. If you are a merchant, run a small business, a startup, a freelancer, a shop, or a delivery service; then accept payments for your business from millions of Paytm customers. Collecting money has never been this easy. Thanks to the Paytm for Business

Integrating your Magento Webstore with Paytm allows you to accept payments using Paytm Payment Gateway. You can accept payments via Debit Card, Credit Card, Net Banking (supports 3D Secure), UPI, or through Paytm wallet. The extension offers smooth integration, allowing the customer to pay on your website. This extension works across all browsers and ensures compatibility with the latest versions of Magento. This means payment acceptance from any funding source. Plus, view daily earnings in a Single Reconciliation view for daily peace of mind right from the Paytm for Business account dashboard :)

Account & Pricing:

Requires to sign-up for Paytm Business Account separately as the account will not be created during the installation of the extension. You can choose the pricing plan that suits your business. Find the pricing information by clicking pricing Information. There is no setup fee, you can start accepting payment at no cost.  For more information. Currently, Paytm offers these payment services, exclusively for websites owned by Indian entities only.

Signup using the link:  https://dashboard.paytm.com/?utm_source=Business_Website

Security:

Paytm for Business is powerful & secure payment solution with Anti-Fraud Technology to keep you safe PCI-DSS compliant with 128-bit encryption. Paytm for Business never stores customer’s CVV number to ensure their Credit and Debit Card details are completely safe. All financial transactions on Paytm are done with 128-bit encryption SSL security. Paytm for Business also engage in real-time monitoring and transaction engine to weed out suspicious transactions and ensure the customer’s money is always secure. The customer will be redirected to the payment gateway site for completion of the payment where all the data is completely secured. The customers not required to enter any data in Magento during checkout. The customer's payment data is not stored in Magento.

Use Case:

A customer can log in to their account and add products to their cart. After that, they can process checkout and select the Paytm payment method as a payment type. After clicking on the "Place Order" button the customer will be redirected to the Paytm page. From there, customers can enter the billing information and make the payment. If the Sandbox mode is active then customers can only see the “Net Banking” payment method. If the live mode is active then customers can see all the available payment methods and can make the payment from any of the payment methods they want. After that, the customers can check the payment method in their order invoice. 

Features:

• The customers can make payment with the use of credit cards.
• The customers can make payment with the use of debit cards.
• The customers can make payments with the use of net banking.
• The customers can link with Paytm through mobile to get saved payment method and pay.
• The customer can make payment with the Paytm wallet.

Workflow:

After installation of this module, the admin can navigate to Store > Configuration. From here the admin can select Sales > Payment Methods to configure the Paytm payment method. Here, the admin can enable/disable the payment method, enter the title for the payment method and the Paytm credentials. 

 For the Business ID, Marchant Key, Transaction Url, Transaction Status Url, Channel Id, and Website, the admin needs to sign-up for Paytm Business Account. Once the admin has registered, then the admin can generate the required details from their account.

Benefits:

Store Owner Benefits - This module helps the admin in expanding their business to all Indian customers as this payment gateway supports multiple payment types.

Customer Benefits – The customers will be benefited from this module as with the help of this module they can make a purchase using different payment types and also saved payment types form their Paytm account. 

For more details contact at contact@chkoushik.com or by visiting https://chkoushik.com