Finance

8 Services Provided by Payment Gateway in India

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Are you curious to know all about the best payment gateway in India? If so, then this blog is all you need.

Tell us honestly, when was the last time you had paid for something in cash? You don’t even remember, right? The payment gateway was one of the most remarkable technologies that humans created. It has made the lives of people easy. Now one can transfer money to another person with the comfort of their couch. Not just for consumers, it was a blessing for merchants too.

No matter what kind of business you are running, payment gateways are a necessity. But choosing the right payment gateway in India can be a little tricky since so many payment gateways are available.

But guess what? Below we are listing out the services provided by the payment gateway in India.

Things To Consider Before Choosing the Payment Gateway In India

Below is the list of features you should look upon in any payment gateway before going with it.

1. Merchant Dashboard

Whether you are running a small business or large, you need something from where you can verify all your transactions at the end of the day. This is where the merchant dashboard comes to the rescue. The merchant accounts give users complete control of all inbound and outgoing cash flows, banking information, and activities. And all of this on a single platform.

2. International Payments

The very reason why people are moving towards eCommerce is their ability to break all barriers such as global boundaries, international clients, and all. So you must go with the payment gateway that allows you to accept international payment even if you are running your store from India.

3. Quick Refunds

Customer is the king, and as a business owner, you don’t want to upset your customers. And the reason for strife between customer and merchant happens when there is a talk about refunds. You see, if you are running a business, you need to accept that you have to pay back the money if the customer is not satisfied with the service. So you must use a service that offers a quick and easy refund.

4. Subscriptions

If you are running a SaaS-based business, you must go with a payment gateway in India that offers subscription or recurring services. This service is ideal for both consumers and merchants. It allows users to set an automated billing process for the customers, which is excellent for organizations that operate on a monthly payment schedule.

5. UPI Payments

It is okay if you have a credit card, debit card, or net banking option, but you certainly don’t want to miss out on UPI payments if you operate a business in India. UPI payments are the top choice of Indian citizens. Almost every customer knows what UPI is. Whenever the client is introduced with the recognizable means of payment, it guarantees that they feel secure while making payment.

6. Settlements

Okay, so as a merchant, you need to go with a payment gateway that offers quick settlements. You don’t want to wait for days to get your payment credited to your account. The waiting period can be troublesome.

7. PCI-DSS Complaint

Security is everybody’s first concern, whether you are a merchant or a customer. So while choosing the payment gateway, go with one that follows the PCI-DSS complaint. A secure payment gateway prevents online theft. It also protects customer data and other confidential material.

8. API & Integration

At some point or another, most businesses require the use of API and integration. So it is best to look for these features in the payment gateway while you are selecting one.

That’s all! Payment gateway is an essential part of running an online business. We know with this many options available in the market, the process can become a little intimidating. But remember, payment gateway can break or do your business. So always consider the things mentioned above while choosing the payment gateway in India.

 

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