Paytm founder looks back at ‘humble beginnings’

Paytm has often been attributed as one of the first companies in India which pioneered the digital payments ecosystem. One of the few successful payments methods was the introduction of QR code. This method allows users to just scan a small sign to pay the desired amount via Paytm.

The company’s founder Vijay Shekhar Sharmretweeted an image of the first shop that had adopted the company’s QR code payment method. The tweet by Kumar Aditya, the Senior Vice President - 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 shop in September 2015.

Recently, Paytm announced the launch of their subscription service for businesses across the country named as ‘Paytm Subscriptions’. The service will enable businesses to collect payments from their users via flexible payment methods.

The subscribers & 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 as well as flat or variable charging.

Merchants can also integrate the payment option for display on a TV screen or in-app purchases. The gateway is built with features such as pre-debit notifications, smart retry, intelligent routing between multiple bank gateways, card expiry notifications and intelligent 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.