Why Every Online Business Needs an Affordable Payment Gateway?
In order to get orders rolling in from your online retail business or service while still saving your budget, you need a reliable and affordable Indian payment gateway.
What is a Payment Gateway?
If you’ve ever purchased something online then you have used a payment gateway. You may have used one in a traditional store as well. Simply put, it is a piece of software that processes credit card and other types of virtual payments for online merchants and brick-and-mortar stores. Netregistry describes them as a secure link between a bank and a web server. We have probably all been in a situation at some point where an online payment fails to go through, despite the account being in credit, carries excessively high fees, or takes a long time to be transferred even between domestic accounts. That is precisely why you need a service such as PayUmoney.com to provide a flexible and high quality service for an affordable price.
Which Business Needs One?
Any business which accepts payment from customers at their convenience needs a good payment gateway. All you need is an e-commerce website and a merchant account from a bank. The Indian payment gateway provides a link between the two. Even if you sell through third party sites such as eBay, you still need a payment gateway to make payments and they will encourage you to open and integrate an account before you begin selling. This way, you avoid making transactions by exchanging bank details directly, your customers can buy at any time without your physical presence, and both you and the consumer can avoid scams and risks.
Benefits of a Payment Gateway
Other benefits for yourself and your customers include:
- Facilitates quick and easy payment.
- Easy integration in the website.
- Facilitates overseas payments.
- Secure payments.
- Lowered fees.
- Security of bank and credit card details.
- Easy refunds or reimbursements.
- Little payment administration
- Record of all transactions, including dates.
- Instant notification of successful or failed payments.
- Avoiding scams or theft.
- Acceptance of donations.
- Inclusion of delivery costs.
- Payment receipts for customers.
- Purchase without needing to sign up for or log into a new account.
- Prevention of credit card fraud or identity threat.
- Benefits of Choosing a Payment Gateway
There are many payment gateway providers supplying the technology and just like any service provider, many of them are overpriced or fail to meet the needs of the consumer. Here are some benefits that even the cheapest payment gateway will give you:
- Instant activation.
- Next day payments.
- Direct payment to and from bank accounts.
- No need to open new bank accounts.
- Affordable cost.
- Compatible with any bank.
- Mobile payment options.
- Security features and personnel.
To set up your online store and start making payments from customers quickly and easily, look for a credit card payment gateway to start bringing in money to your business. It is the safest, fastest, and simplest way for customers to make their payments and for you to receive your money.