Paytm Takes On The App Market By Introducing Mini App Store

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Girdhari Singh | General Technology | Added October 7, 2020

Monday was a remarkable day for the Paytm payment gateway service provider as the company announced the launch of an all-new Android mini app store (Paytm Mini App Store)  to give its competitors a tough fight.

By now, Google has been the most dominant app provider in the market, but things might change now with the entry of Paytm in the league. Paytm claims to save the users data as well as the phone memory, as this is why the latest venture is called the mini-app store. 

This article covers the concept of payment gateways along with educating the reader about the latest venture of the popular payment gateway platform, Paytm, that has been registering its success in the nation for a long time now. 

Paytm Mini App Store : Learning The Concept Of The Top Payment Gateway Brand

Launched in August 2010, Paytm has completed a decade of its journey. The platform supports 11 Indian languages that make it multilingual. Apart from serving as the leading payment gateway service, the platform also deals in goods and services purchasing along with settling utility bills. 

The huge success of the platform can be validated with the fact that it has reached a net worth of $10 billion, and the IPO is suspected of rolling out by the year 2022.

The company also claims that more than 7 million merchants spread across the Indian territory use the services for managing funds. The platform was increasingly resorted to at the time of demonetization that contributes a major share in its success story. 

Paytm has recently made its name into the headlines once again and not because of the existing services that it offers but because of the new addition in its stable, i.e. Paytm Mini App Store. 

To have a better understanding of the concept, let us dig deeper into the latest venture. 

Introducing The Mini App Store

The Indian app market, by far, was dominated by Google and Apple’s presence. It was then when the Indian payment gateway operator realized the need for stepping into the app market with its distinctive platform. As a result, founders of Paytm payment gateway invested in the innovation of the mini-app store with an aim to relieve the Indian businesses with the huge tax (almost 30%) that was imposed.

paytm app store

The Payments Council of India that is headed by its founder Patel also stated that the tech giant Google was forcing the Indian businesses to opt for Google billing and in return, pay a commission fee for it. The extent of dominance that was reflected in the actions became one of the factors to break the ice and work on a nationalized app store management system. 

Now, the latest addition is the mini-app store that is all set to take on its foreign rivals. With its launch, the local businesses are expected to get relief from the high taxation that is involved when using any foreign platform. 

Future Of Payment Gateway

The demand for payment gateway services has surged drastically. All thanks to the increasing digitization. Not only they offer convenient and instant transactions but are also equipped with security enhancements that make it a reliable platform to use. Many payment gateway providers exist in the Indian market, but it takes a team of dedicated professionals to make a payment gateway service the best payment gateway.

Approach a leading software development company to get a more detailed review and information about the process and also the cost estimate that will incur for the completion and successful deployment of the project.

Final words

It is the success of the payment gateway that is appreciated, but one often tends to forget the hard efforts of the payment gateway development company.

With many development companies that are available in the market, identifying the most reliable payment gateway development company can be a challenging task.

Conducting in-depth research on a trustworthy search engine can take you closer to the right development company for your project. Hurry up and book an appointment to grab on the golden opportunity and play your stake by introducing a fully customized system that makes it the best payment gateway in the market.

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