Paytm is extremely well suited for lunch reimbursements and for paying road tolls. Paying road tolls is so easy using a Paytm money balance. loading money takes less than a minute. Lunch reimbursement amounts are directly transferred to Paytm wallet and these can be used in thousands of places. Paytm can improve its eCommerce portal and simplify the KYC process. Also, the app is a bit cluttered as of now. There is scope to make the app more modern and simple.
From my point of view PayU is suited for large business only. But small business can also use PayU to collect payments from their customers but again, I think PayU is suited for large business mainly.
One of the not so convenient things on Paytm is that if there is a connection failure while making a payment, your money is not credited directly to your bank account but rather to the Paytm Wallet, and this money can only be used by the Paytm platform.
In Paytm, user verification requires a personal visit to their physical offices, this can generate a lot of discomfort among potential users since if we want to use a virtual service it is precisely to encourage time saving.
You should be very careful when making purchases through Paytm's direct store, since in many occasions there are products of lower quality than the one offered and even fake products, it is better to use it to make payments to third parties and in considered amounts.
When I inquired about payment gateway I found lots of platforms but all have differences. When I compared with Razorpay I found that Razorpay takes fix 2% charges for all types of payments received on your account while Paytm takes max 2.5% charges for Prepaid card and 0 for UPI and Rupay cards. Razorpay takes 2 days to settle the amount in your account where Paytm settles the amount in your bank account next day by morning.
Payu is a much better and easier to use platform. It doesn't charge any upfront fee or annual fee. The payment processing charge is very low. The remittance is very quick and there is no minimum amount criteria for payment remittance. Payu offers tons of payment options. The best part is the payment page. The page is simple and beautiful
It decreased checkout time for the user which allowed us to increase user experience.
Rarely, I used to face issues with transactions. If order got cancelled refunding of money, settling them etc.,
Since Paytm has link with UPI and I am able to collect money from any UPI applications, using credit or debit card, and internet banking it acted as single stop solution for me. There is no need to have multiple payment gateway options.
