The on-demand streaming service will introduce the new payment option after the rollout of UPI 2.0, the source said, requesting anonymity. UPI 2.0, expected to roll out later this year, is the upgraded version of UPI protocol which will offer a range of new capabilities, including programmable electronic mandates that can enable auto-renewable billing option.
Earlier this year, Netflix had held advance talks with One97 Communications for introducing support for recurring billing option with mobile wallet Paytm, three sources told Gadgets 360. But in the past three months, those talks have hit a wall, a source said. Music service Gaana accepts Paytm as an option, but it requires users to punch in their credit/ debit card number for approval. Netflix couldn't get over this limitation.
http://gadgets.ndtv.com/entertainment/news/netflix-upi-payments-launch-imminent-1742009
"We already have credit card billing so introducing a wallet provider as a middleman makes no sense," the source told Gadgets 360 recently. There was one more limitation that emerged as a deal breaker. "On top of that, Paytm money cannot be used to pay cross-border," the source told Gadgets 360. Netflix had internally built the tech back-end and user interface and design flows for Paytm payments option, but then it put it in "cold storage," the person said. A Netflix spokesperson declined to comment, as did Paytm's.
"We already have credit card billing so introducing a wallet provider as a middleman makes no sense," the source told Gadgets 360 recently. There was one more limitation that emerged as a deal breaker. "On top of that, Paytm money cannot be used to pay cross-border," the source told Gadgets 360. Netflix had internally built the tech back-end and user interface and design flows for Paytm payments option, but then it put it in "cold storage," the person said. A Netflix spokesperson declined to comment, as did Paytm's.
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