PayTM payment gateway: All you need to know


In India, payment gateways can offer multiple payment avenues like debit/ credit cards, e-wallets, Netbanking, EMI or UPI. And if you are looking for a modern, easy and cheap way for your international payments, Wise for business may be the right fit for you.

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What is PayTM payment gateway?

Payment gateways are an online service that processes online payments for businesses. It can be integrated into a business’ website or app so the point-of-sale happens right when consumers are shopping. But not all payment gateways are the same. They can differ in their fee structure, ease of use or maybe don’t offer the relevant payment options. It would be a good idea to do research into which payment gateway offers options that are comfortable for your customers, has low fees and is easy to use for you as a business owner.

If you’ve been to India, it is likely you’ve run into someone using PayTM. Whether it's for sending money, taking payments, paying bills, buying movie tickets or metro card recharges, PayTM has become India’s largest payment gateway for merchants and customers. They offer mobile payment solutions to over 7 million merchants and at the same time let customers make seamless payments using the app¹.

Their focus on merchants and the unbanked using mobile technology means that more people in Indians can use digital payments for their business. So whether you are starting your business in your kitchen or need an option for your corporation, PayTM has a payment gateway plan for you. Let’s look at how PayTM works and if it is worth incorporating into your payment solutions. And for an easy to use and technology-enabled partner for international payments, look no further than Wise for business.

PayTM payment gateway pricing and charges

PayTM has 3 different plans that businesses can use- Starter, Standard and Enterprise. The Starter plan is best for individuals and small home businesses. Standard is typically for sole proprietorship firms. Enterprise is for large businesses with high transaction volumes². PayTM doesn't charge for setting up or running your account³. Instead, the charges come per transactions carried out using the platform. The transactions charges are as follows-

Payment option Starter Standard Enterprise
UPI 0% 1% + GST 1.75%+GST
PayTM Payments Bank 0% 1% + GST 1.75%+GST
Credit or Debit Card (Visa, Rupay, Mastercard, Maestro) 1.75%+GST 1.75%+GST 1.75%+GST
Netbanking 1.75%+GST 1.75%+GST 1.75%+GST

18% GST is applicable

While UPI and the PayTM bank allows for unlimited monthly payment acceptance transactions for all plans, credit/ debit card and net banking are capped for Starter and Standard accounts. For Starter, you are capped at ₹20,000 monthly payments into your account; for Standard, it is ₹5,00,000⁴.

Starter accounts can be instantly activated with online submission of a PAN card and with an active bank account. Standard and Enterprise also have document requirements in order to be activated.

PayTM Payment Gateway supports a wide range of payment methods for Indian customers to choose from⁵:

  • PayTM wallet
  • PayTM postpaid
  • PayTM payments bank
  • Debit/ Credit cards (Visa/ Mastercard/ RuPay/ Maestro)
  • NetBanking (available for 50+ Indian banks)
  • UPI
  • EMI
The payment methods available for your account do depend on the plan you have selected and the documents submitted during application.

Your customers don’t need a PayTM account to pay you using PayTM Payment Gateway. Although having a PayTM account helps your customers to pay faster using their PayTM balance or saved cards and UPI bank accounts, it’s not mandatory⁶.

PayTM international payments

The PayTM Payment Gateway can accept international cards. There however might be a fee tacked on to the payer’s card and the exchange rate would be determined by the card company used. There is also a capability for multiple currency payments on the business’ website in specific cases, but that service isn’t part of the normal plans and would be available in limited use cases⁷.

One easy solution for receiving international payments is Wise which Indian businesses and freelancers to receive payments from abroad at the real exchange rate you see on Google or Reuters.

PayTM settlement

PayTM settles into your bank account the next day. So the total payment that you receive within 24 hours of one day is transferred to your bank account by the next working day. There is a chance that your bank’s processing may add additional time to this so check with your bank with your settlement’s UTR (Unique Transaction Reference) number. You can check the status of your settlements on the PayTM for Business app or the PayTM Dashboard.⁸ ⁹

Some PayTM merchant partners can get an Instant Settlements feature. With this, merchants can transfer the payments received from customers to their bank accounts at any time. Contact PayTM to learn more if this is possible for your business¹⁰.

PayTM customer care

PayTM offers a few options to provide support for merchants using it’s platform. You can take a look at their in-depthFAQ, or call them directly if you are an existing user at 0120-4440440. You can also send aquery for them to contact you. The PayTM dashboard for business will also provide you the tools to troubleshoot any issues you have.

Let Wise take care of your international payments

It isn’t easy to run your own company, so let Wise handle your international payments for you. Wise offers Indian businesses and freelancers with account details in 8 different currencies to receive payments from abroad. Your clients pay you with a local transfer in their currency, and you receive rupees in your INR bank account — with eFIRC for every transfer. That is truly business without borders.

Get started with a Wise Business Account 🚀

Sources used for this article

  1. PayTM About Us
  2. PayTM Pricing
  3. PayTM Set up charge
  4. PayTM Pricing Limits
  5. PayTM Payment Support
  6. Non PayTM Users
  7. International Cards
  8. PayTM Settlements
  9. PayTM Reconcile Payments
  10. PayTM Instant Bank Settlements

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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