India’s largest payment gateway Paytm (owned by One97 Communications Limited) has today announced the launch of OTP-less single click card payments. This move will improve the overall payment flow in terms of transaction completion time and success rates while delivering a superior user experience
A large number of users spends less than Rs. 2,000 for their everyday frequent payments. The convenience of OTP-less single click payments will result in an increased conversions in a more secure and convenient way. To avail the service, Paytm customers can enable their saved card or add a new card for instant payments at offline retail stores or while using any of their Paytm services and also at the partnered platforms such as Uber, Zomato among many others.
The company has also announced its payment integration with Flipkart owned Myntra where millions of Paytm users can now pay through any of their preferred payment mode (cards, wallet & UPI).
Puneet Jain, Senior Vice President at Paytm Payments Gateway said, “We believe that our OTP less payment solution will make the card payment experience secure, superior and convenient. It solves the problem faced by traditional 3DS payments flow such as a multiple redirections, SMS delivery issues, and connection timeouts leading to several breakpoints. With this offering, we are aiming for a huge increase in repeat transactions with a higher success rate through our Payment Gateway.”
He further added, “Our partnership with Myntra will enable millions of Paytm customers to use their preferred payment method while shopping on their favourite fashion platform.”