In India, decisions by regulators can reshape the payments landscape. Paytm led the mass adoption of digital payments in India through its e-wallet and QR codes, but after the RBI placed business restrictions on its affiliate, Paytm Payments Bank, in 2024, UPI payments processed through partner banks became the core of the service. Even so, the Paytm app remains one of India's leading payment apps, used daily by tens of millions, and its brand recognition and merchant network remain valid assets.

Paytm's user base extends widely into tier-2 and tier-3 city commercial areas, making it meaningful for commerce, travel, and ticketing businesses looking to reach Indian consumers outside major metros. It's worth confirming during consultation whether standard UPI integration also captures Paytm users, and what the current scope of support is for wallet balance payments.

When a consumer scans a QR code or approves a payment request in the Paytm app, it is now mostly processed as a UPI transaction based on a partner bank account, with INR transferred in real time. Hecto Financial receives the resulting funds in INR, converts them, and pays the Korean merchant in whichever currency—USD, KRW, or JPY—was selected under contract. Whether wallet balance payments are supported can change depending on the regulatory situation, so confirm this at the time of integration.

With Hecto Financial integration, a Korean corporate entity can review acceptance of payments from Paytm users without a local contract in India. However, since Paytm's service structure has shifted due to regulation, be sure to confirm the currently supported payment paths (UPI, wallet) and terms against the latest standards before contracting.

• Business registration country

  Confirm contract eligibility as a Korea-registered business

• Sales channel

  The integration approach differs depending on whether you sell online only or also operate offline stores in India

• Product category

  Advance confirmation is needed to check whether your category falls under Paytm's restricted merchant categories

• Local regulatory compliance

  Confirm compliance with India's payment and foreign exchange regulations (see official sources below)

Settlement starts with payment funds received locally in India in INR. After Hecto Financial completes the conversion, the Korean merchant is paid in whichever currency—USD, KRW, or JPY—is specified in the contract, with the settlement cycle and fees following contract terms. Refunds on UPI-path transactions default to returning funds to the original account, and since Paytm's policies can change, it's advisable to reconfirm refund deadlines at the time of contracting.

• Reserve Bank of India (RBI) / National Payments Corporation of India (NPCI)Official information on India's payment systems and related regulations. If actual regulations differ from the content of this page, the official source takes precedence.