Zoho Subscriptions is pleased to announce enhancements in our Paytm payment gateway integration! India has seen massive digital payment adoption in recent years due to a combination of factors like a favorable policy for financial inclusion in the banking sector, genuine innovation in fintech, and an emerging economy backed by a young population demography.
Now, Indian merchants can leverage these advancements in the digital economy to process auto-renewing payments using our enhanced Paytm subscription integration with Zoho Subscriptions and collect payments from multiple payment modes.
Payment modes supporting recurring payments:
Cards have been the de facto mode of payment for online transactions due to their robust safety and security for both consumers (payment redressal) and merchants (fraud prevention). With the Zoho Subscriptions - Paytm integration, you can store and process card transactions that are compliant with new RBI recurring payment regulations.
Credit card (Banks that support Visa and MasterCard - HDFC, ICICI, SBI, Axis, Yes Bank, Citibank and other major banks).
Debit card (Banks that support Visa and MasterCard - HDFC, ICICI, SBI, Axis, Yes Bank, Citibank and other major banks).
India's homegrown payments platform, UPI, has seen exponential growth since its inception, recording 6 billion transactions as of July 2022. UPI has an interesting roadmap for supporting credit card payments and potential cross-border transactions. Tap into the exponential growth potential of UPI for your subscription business with UPI auto-pay powered by Paytm with Zoho Subscriptions. You can collect UPI auto-pay payments from a wide selection of apps and UPI handles.
3. Paytm Wallet
Paytm is one of India's leading payment gateways with more than 400 million users using Paytm Wallet nationwide. You can enable Paytm Wallet as a payment mode to collect payments instantly from millions of potential customers.
The enhanced Zoho Subscriptions - Paytm integration is another step in our effort to provide seamless subscription payment experiences for Indian merchants. You can get the best of both worlds—a powerful subscription management platform in Zoho Subscriptions, and a scalable payment platform in Paytm.
How to enable auto-renewing subscriptions with the Zoho Subscriptions - Paytm integration:
1. If you have a Zoho Subscriptions organization with a Paytm merchant account, you can contact Zoho Subscriptions via support and provide your Paytm merchant ID (MID) to enable the Paytm Subscriptions (recurring transactions) feature.
2. Once Paytm Subscriptions is enabled for the merchant account integrated with Zoho Subscriptions, the Zoho team will receive a confirmation from Paytm.
3. Our support team will send you a confirmation that Paytm Subscriptions is enabled for your merchant ID after which you have to configure a webhook in Paytm (IPN) for instant updates of payment statuses.
How do recurring transactions work with the Zoho Subscriptions - Paytm integration?
Create subscription workflow:
1. Recurring transactions via Paytm can be created only through the Zoho Subscriptions hosted payment pages.
2. Customers can choose any supported recurring payment mode for the merchant to initiate and complete the recurring transaction.
Note: Not all payment modes are supported for recurring payments by default. Paytm merchants can get in touch with the Paytm team to learn about enabling specific payment modes (cards, UPI, Paytm Wallet) for your merchant account.
Subscription renewal workflow:
1. Two days before the subscription renewal date, a pre-debit notification will be sent to the customer.
2. This pre-debit notification process is mandatory as per RBI regulations for processing auto-renewal transactions. Hence, we recommend a minimum of two days between each payment retry as it's necessary for processing dunning retries properly.
3. Since there is a need to notify customers 48 hours before a payment is debited, if the payment fails on the subscription renewal date, the subsequent automatic dunning retries should also be set at least three days from the payment failure date in Zoho Subscriptions.
Cancel subscription workflow:
On cancelling the subscription, the corresponding mandate in Paytm will also be cancelled.
Note: Updating subscriptions are not allowed for online subscriptions created with this method as the payment amount cannot be changed as per RBI regulations.
We hope this helps you understand our latest enhancement to the Zoho Subscriptions - Paytm integration. Please write to us at email@example.com if you need any assistance regarding this feature.