While there are a number of reviews on payment gateways in India, you might be wondering on what made us write one more. The reason behind the same is that the old ones are more irrelevant and they are also an overdose for the first time readers. This article is a dummies guide for the beginners or the first time users of payment gateway for website.
To sell something over internet, a payment gateway is needed as you need to collect money from the buyers. The payment gateway enables your website to accept online payments using credit cards, debit cards, net banking, IVRS, Digital wallets and various other payments options.
What are the Payment gateway options that are available for merchants in India? Sadly, we only have a handful of secure payment gateways in India.
The next question for the first time users is, how do we choose the best from the payment gateways that already exist?
As an answer to this we bring in a list of parameters to consider before choosing one.
Go Live in Shortest Possible time:
EBS can make merchant live within 24 hours, so that he can start accepting money online. With a gamut of few Net banking and Debit cards options merchant can start accepting money online. Settlement starts as soon as he finishes his mandatory KYC and business documentation.
Technical and Transactional Support:
It is imperative to have technical and business support team to address your queries effectively and swiftly. This can be amongst the major deciding factors when deciding for Payment gateway.
It is imperative to have technical and business support team to address your queries effectively and swiftly. This can be amongst the major deciding factors when deciding for Payment gateway.
Intuitive Features:
Many effective features such as EMI on credit card, Autopay will add retention and loyalty to the customers. Some features like Turbo check out adds a seamless checkout experience for repeat customer.
Many effective features such as EMI on credit card, Autopay will add retention and loyalty to the customers. Some features like Turbo check out adds a seamless checkout experience for repeat customer.
Risk Management Solution:
You should check for Fraud proofing tool whilst you choose a payment gateway, this can be single largest factor to choose a payment gateway. This tool can serve as a Seller protect to safeguard against proliferating online frauds.
You should check for Fraud proofing tool whilst you choose a payment gateway, this can be single largest factor to choose a payment gateway. This tool can serve as a Seller protect to safeguard against proliferating online frauds.
The User Interface of the Payment page:
The only tangible element of your payment gateway service provider is the user interface. Make sure that the payment page and the sign up page are good and easy to use.
The only tangible element of your payment gateway service provider is the user interface. Make sure that the payment page and the sign up page are good and easy to use.
The Set-up fee of payment gateway:A number of providers charge a one-time set-up fee and they also charge a said % on every transaction and this is known as TDR and can range from 2% to 7%. Apart from this they can also charge AMC which are the annual maintenance charges.
Consider your battle half won once you have chosen your payment gateway service provider. While some take 5-7 days to complete the sign up and so on, there is EBS that provides a turnaround time of 24 hours to get online if all the formalities are completed.
If you are a budding entrepreneur planning to get your business online, give the best payment gateway provider a try.
