How do payment companies make money

PhonePe gets its commission from the promotion of various products on its app . It also collects revenue from a partner through the ‘Switch’ platform. Recharge points/centers usually earn a commission from the telecom companies when the customers recharge their phones.

E-Wallet allows you to store multiple credit card and bank account numbers in a secure environment, and eliminate the need to enter in account information when making your payment . Once you have registered and created E-Wallet profiles, you can make payments faster and with less typing.

Commerce and Cloud Services Paytm generates revenues by charging merchants a transaction fee and consumers a convenience fee , typically linked to a percentage of the transaction value for travel, entertainment, ticketing, and other commerce businesses.