Automatic payments for OTT platforms are important as they provide uninterrupted entertainment by ensuring timely payment of subscriptions. Paytm offers the convenience of setting up automatic payments for OTT platforms, allowing users to avoid the hassle of remembering and manually making payments. This is particularly beneficial for annual subscriptions, which are popular due to their cost-effectiveness. By automating payments, users can enjoy their favourite content without the worry of missing payment deadlines.
What are Automatic Payments?
Automatic payments refer to a system where you authorize a financial institution to deduct a predetermined amount of money from your account regularly, without requiring your manual intervention each time. This can be set up for various recurring expenses such as bills, subscriptions, or loan repayments. By enabling automatic payments, you eliminate the need to remember due dates or initiate transactions manually.
What Are Subscription Payments?
Subscription payments are a type of payment that you make regularly for a product or service you use regularly. For example, you might have a subscription for a streaming service like Netflix, where you pay a certain amount of money every month to access their movies and TV shows. Or you might have a subscription for a magazine, where you pay a certain amount of money every month or year to have the magazine delivered to your home.
Paytm has a feature that makes these payments easier. It lets you set up automatic payments for OTT platforms, like streaming services. You choose how often you want to pay, like once a month or once a year, and Paytm will automatically take the money from your bank account on time. It also sends you reminders and notifications of the payment. This way, you can keep enjoying your subscription without any interruptions.
How to Set up Automatic Payments on Paytm for OTT Platforms?
Step 1: Open the Paytm app and tap on your profile icon located in the top left corner of the screen.
Step 2: From the options displayed, select ‘UPI & Payment Settings’.
Step 3: On the next screen, tap on ‘UPI Automatic Payments’.
Step 4: Now, select ‘Setup New’ to begin setting up a new automatic payment.
Step 5: On the following screen, choose your preferred OTT subscription and proceed with the setup.
Step 6: Once you’ve completed the setup, your automatic payment for the selected OTT subscription will be activated.
Step 7: Depending on your chosen subscription plan, the payment amount will be deducted from your account on the date you have selected.
What Are the Benefits of Paytm Automatic Payments?
- Paytm offers the convenience of setting up automatic payments, allowing you to easily schedule and manage your bill payments, OTT subscriptions, and other expenses.
- With Paytm, you will receive timely notifications and reminders about upcoming payments, ensuring that you never miss a due date or incur late fees.
- You have the flexibility to choose any linked bank account within Paytm for making automatic payments, making it convenient and hassle-free to handle your financial transactions.
By enabling Automatic bill payments on Paytm, you can ensure that your payments for OTT subscriptions are always made on time without any manual intervention. Simply set up the automatic bill payment feature on Paytm and free yourself from the worry of making timely payments and incurring late fees. Additionally, Paytm sends regular notifications to keep you informed about your payments.
This blog aims to simplify processes for readers. However, it is important to note that some information and screenshots may be outdated as Paytm may change its user interface for improved usability. Readers are advised to cross-check the latest information on Paytm app for the most accurate and up-to-date instructions.
