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“Paytm Subscriptions”, the subscription service for businesses.

Local payment gateway Paytm has expanded its services and made it easier for companies to collect payments through various methods. Called “Paytm Subscriptions”, the subscription service for businesses will allow them to collect payments from their users through flexible payment methods such as Paytm Wallet, UPI or cards, the company said in a statement Tuesday. Subscribers and customers can choose and pay for themselves through their preferred payment option. Additionally, customers can make periodic payments for subscription-based services. While Paytm previously launched the subscription-based recurring payments feature, it has been limited to card and bank account transactions to this day and has now been extended to UPI as well.

The payment gateway will also be equipped with features such as pre-debit notifications, smart attempts, smart routing between multiple bank gateways, card expiration notifications, and smart error code management to ease the process of payment. The company now expects to attract more than 1,000 businesses over the next six months, as it has already integrated several leading online platforms such as Zee5, Disney +, Epic On, JioSaavan and Gaana among others.

Meanwhile, Paytm’s e-commerce subsidiary, Paytm Mall, recently suffered a massive data breach after a group of hackers attacked it. The group of attackers called John Wick demands a ransom in exchange for the data. The group was able to get unrestricted access to all its databases (Paytm Mall), a US cyber risk intelligence platform Cyble said in a report posted on its blog on Sunday.

How do I create a payment gateway and become a payment service provider?

The first thing you would require to become a payment gateway or a payment service provider is a fully-functional operating software. This will allow the credit and debit card information to flow securely to the banking system. Once a payment request is validated, the correct response is securely sent back to the e-commerce website, i.e. the merchant website. Security is of paramount importance. Sensitive information such as passwords and credit card numbers etc. are vulnerable to cyber attacks. You cannot really compromise on the security of your systems. Bear in mind that only banks have the ability to process credit and debit card payments. If you want to start a payment gateway, you need to contact a local bank. You need to get an API from your banking partner to activate your services. You cannot get an API unless the bank is confident about the security of your website. In a word, to become a payment service provider, you need two things: (1) A high-end and fully secure system and a banking partner. If you need an expert team for consultation, please feel free to contact us.

Why does refreshing a payment page cancel the payment?

When a submits debit or credit card information to an e-commerce website, it is in turn submitted to the Payment Gateway website. All the data from the payment gateway website is then relayed to the bank server. The validity of the data is then verified through the payment terminal and the output is sent back to the payment gateway and the result of the transaction is conveyed to the e-commerce website.

There are so many processes involved when purchasing a product from an e-commerce website and the validity of the data is checked at every step. In order to prevent fraudulent transactions, the slightest inconsistency of data can lead to payment rejection. Refreshing a webpage during a transaction means resubmitting data. If the data is re-submitted, inconsistencies are noticed by the gateway and therefore the transaction is automatically canceled.

Cross server data is so sensitive that it is necessary to decline a transaction, if there is a slight discrepancy. So, if you submit your details for a second time, the payment ought to be canceled.

Where can I hire a cheap developer for adding a payment gateway to my e-commerce site?

To build an online website, considering an eCommerce CMS is a wise choice. Especially if you're already familiar with WordPress, this platform will help. It supports a wide range of free payment gateway plugins. Login to the admin panel, search for the right plugin and get it installed with ease. You can hire a programmer if your website is using Core PHP or a PHP framework like Codeigniter or Laravel. You can try a freelancer website to find someone with knowledge and expertise in the field. I hope the above is useful to you. Please let me know if you have any questions.