Paytm adds power of AI to Payment Gateway


Digital Payments leader, Paytm, which also runs a payment gateway vertical, has announced the launch of AI-based router that will help merchants to achieve a higher payment success rate. This revolutionary engine sits on top of multiple payment aggregators and analyzes data in real time to route transactions dynamically to the best performing aggregator for improved success rates.

With this new launch, the Paytm Payment Gateway offers smart processing of bank OTP’s and also optimizes bank pages. The engine’s algorithm automatically calculates the success rate for every card bin and for every bank, thereby routing payment traffic to the best performing aggregator offering different payment modes in absolute real time.

This AI-based routing engine uses Big Data analytics to provide merchants a comprehensive analysis of their sales, transactions and success rates in an easy-to-refer dashboard. With this AI-based router and Big Data analytics, along with other value added offerings the company is expecting 2X growth in the transactions that are processed on its platform by the end of FY ‘20.

Puneet Jain, Vice President – Paytm Payment Gateway said, “Our partnered merchants spend massively on customer acquisition and retention. The last thing they want is losing a customer due to payment failure. We are excited to introduce an AI-based routing engine that addresses this problem by optimizing the payment workflows and routing the transaction to best-performing payment aggregator in real time. Further, this will help online merchants reduce development effort to enable various PG providers and achieve faster time to market.”

Paytm Payment Gateway dominates online payments with 50% share. It processes over 400 million transactions every month, which is 5x bigger than any market player. It is the preferred payment gateway for several leading online platforms such as IRCTC, Zomato, Oyo, Swiggy, UrbanClap, PVR, Club Factory, Dominos, JIO, and Idea among others.