New Delhi: One97 Communications Limited (OCL) that owns leading payments and financial services company Paytm, on Thursday brought Paytm UPI software development kit (SDK) for its merchants, a game-changing product that enables quick, one step UPI payments that never fail.
With UPI Lite and now Paytm UPI SDK, the company is now offering its two-sided ecosystem of consumers and merchants fail-proof UPI payments.
An industry-first solution designed for apps, Paytm UPI SDK ensures fail-proof, superfast UPI payments directly from the merchant's app.
"As a full-stack payments solution provider, Paytm has been at the forefront of driving innovation in mobile payments. With Paytm UPI SDK, we have enabled fail-proof, superfast payments which ensures merchants do not have to worry about payment failures," said a Paytm Payments Services spokesperson.
Being the lightest SDK in the market, it ensures that the merchant's app size remains small for a smoother experience.
"Through our innovative payments solutions, we are empowering our existing merchant partners to grow their business," the spokesperson added.
Being almost half the size of its competitors, Paytm UPI SDK is the smallest in the industry, ensuring that the merchant's app remains lightweight yet packed with all the powerful features of UPI.
Additionally, Paytm UPI SDK offers easy, low-code integration with fully customisable UI themes and priority customer support.
With Paytm UPI SDK, payments become faster than ever before without any external redirection, as users do not have to switch between merchant and payment apps to complete transactions.
"For merchants, this is an advantage as lesser steps taken to complete a UPI payment leads to reduction in transaction time and lower or no payment failures," according to the company.
Powered by the technology of Paytm Payments Bank, Paytm UPI SDK is distributed to existing online merchants by Paytm Payments Services Ltd, a fully-owned subsidiary of OCL.
Paytm UPI SDK currently supports payments from UPI-linked bank accounts and RuPay credit cards.
It will soon support payments with UPI Lite to completely eliminate transaction failures for small value payments, said the company.—IANS
