Cable TV Sector in India: Why does the industry need to switch to online payments?

payment solution for cable TV providers

The world of Cable Operators has recorded an unprecedented growth in the Indian market. The major factors propelling the growth consists of the favorable government policies, technological advancement, spending power of consumers and investment opportunities in the sector. Being the sunrise sector, cable and entertainment has become an indispensable part of every household today.

Cable TV was introduced to the Indian masses when the audience craved for entertainment and then nearly for three decades, it was the only provider of television content in India. Televisory believes that the subscriber base of cable connections will inadvertently remain at a higher value than the satellite subscribers or DTH providers, despite its saturation levels. Recently, India has recorded a surge in active subscriber base with the admission of various Multi-System Operators, who provide a larger spectrum of services. As per the industry estimates as portrayed by Broadcast India 2018 Survey, out of a total of 298 million households in India, approximately 197 million have television sets served by Cable TV, DTH and IPTV Network. Cable Television Industry alone stands with 99 million service providers with more than 1600 Multi-System Operators and almost 60,000 Local Cable Operators serving the entertainment needs of the subscribers, nationally. 

Growth of Indian Cable TV Industry

Spiraling urbanization, growth in disposable income of middle class and fluid lifestyle can certainly be crowned as the factors for the evergreen growth and expansion of the Industry. When talking about the average time span spent by an individual at consuming content over television per day; it has gone up by at least 3 per cent (estimated 3 hours 46 minutes), according to a survey. The Indian Media and Entertainment Industry is anticipated to grow at a CAGR of 12 per cent to touch USD 33.6 billion by 2021 in comparison to USD 23.9 billion in 2017. The television sector undeniably is the largest player, holding a stake of 40 per cent of the Indian Media and Entertainment Sector. 

Need of Digital Payment Solutions for Cable TV Providers

The Cable TV Industry is all set to grow and expand in co-relation to the media and content that has been curated. In the midst of this advancement, it has become crucial for Cable TV providers to align themselves with the technology that can help them run their business in a streamlined motion. With digitization taking a hold of the industry, make sure your business is digitally equipped too.

Digitized subscription fee collection process– Eliminate doorstep payment collection and enjoy the convenience of accepting payments at home.

Tracking subscription fees– Easily track and keep a record of pending and received payments from your customers with our powerful integrated dashboard. 

Bulk invoicing– Create and send invoices to your customers on their email address in one go to seek payments from them without any hassle. 

Automate Payment Reminders– Automatically generate and send payment reminders to your customers with Atom’s Link-based payment solution for cable operators and ask them to renew their subscriptions with you by paying you with one click.

Recurring Billing– With Standing instructions, automatically debit recurring subscription fee amount from your customer’s card resulting in faster, effortless user experience. 

On-time collection of subscription fee– Never miss out on payments from your subscribers with Atom’s multiple digital payment solutions.

Why Atom’s Solutions for Cable Service Providers?

Multiple Payment Options– Atom offers more than 265 digital payment options allowing you never to miss out on payments from your customers. 

  1. Online and Mobile Payments
  2. Net Banking
  3. Link Based Payments
  4. UPI
  5. Credit and Debit Cards
  6. Wallets

Automate your payments– With Standing Instructions and Link Payments, seamlessly collect subscription fee from your customers, automatically on a monthly basis.

Integrated Dashboard– Monitor transactions on a real-time basis with Atom’s powerful dashboard and keep a record of the all payments received from your subscribers.

Secured Payment Processing– With our bullet-proof PCI DSS 3.2V compliance and 256-bit encryption, your payments are always safe and secured. 

With Atom, provide your business a seamless way to accept digital payments from your subscribers. A custom-curated solution provider, Atom, elevates the payment acceptance experience of the Cable TV operators, providing them with a seamless reconciliation and settlement platform, while catering to their needs of providing them with multiple online payment options under one umbrella.

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