5 Reasons You Should Work With Top Payment Gateway in India

If you are running an online business or starting one, you must be looking for top payment gateways in India to work with.

One of the primary mistakes you may make as a new online business is to partner with an average payment gateway due to the urgency of having a payment processor, lack of understanding, and to reduce expenses. Such decisions are going to affect your business negatively.

The next question you might have is what makes a payment gateway the best or at least be on the list of top payment gateways in India.

In this article, we have made a list of payment-related features you should consider before you partner with a payment gateway.

How top payment gateway can increase business growth

Working with the top payment gateway in India will increase your chances to succeed as an online merchant. The features of top payment gateway will go a long way in creating a strong brand presence among your users.

Here are the benefits of working with the top payment gateway:

  • Customer trust
  • High rate of conversion
  • Increase in liquidity
  • Better insights into your customers

Top features of the best payment gateway

There are already hundreds of online businesses in India. Chances are a lot of them are your direct competitors. You should do everything in your capacity to ensure you are working with the best partners, which includes payment gateways.

Here are a few features your payment gateway must have:

  • Access to all payment modes: This is one of the basic yet very important features that your payment gateway must have. A top payment gateway will by default enable all the payment modes to your website. Debit and credit cards, net banking, and UPI, are the most basic payment modes that any payment gateway will provide. However, a top payment gateway would go above and beyond these and enable digital wallets and Buy Now, Pay Later (BNPL) as well on your platform.
  • Quick checkout: The payment gateway you choose should let users pay for their purchase quickly, possibly with just a couple of clicks. You will have a host of abandoned carts if your customers have to spend a lot of time on the checkout page to make a payment. In addition to this, your payment gateway should adapt quickly and with ease with mobile devices including tablets.
  • On-time settlements: A payment gateway holds the key to your liquidity woes. That is why it’s wise to choose a payment gateway that offers timely settlements so that you can access your money when you need it. A good payment gateway will process payment settlements within a day or two.
  • Tokenisation: According to the RBI directive, all online shopping websites must tokense their users’ cards if they want to continue saving card details for quick checkout. Your payment gateway must have the capability to tokenise users’ debit and credit cards. This will ensure your users continue to pay via their saved cards.

Five reasons you should work with a top payment gateway

A lot of e-commerce business owners prefer working with a payment gateway that quotes a cheaper price compared to others. As a young startup, it’s good to cut down on expenses. But it’s equally important to ensure you are not sacrificing quality and customer experience over saving money.

Interesting Read: Different Types of E-payment Systems for Your E-commerce store

If you are looking for a top payment gateway in India that doesn’t make a hole in your pocket, Paytm Payment Gateway is the right choice.

Here are the five reasons you should choose the top payment gateway to work with and why Paytm Payment Gateway is the best in the market.

  1. Reduced cart abandonment rate

Working with the top payment gateway means that eventually, you will start seeing a fall in cart abandonment. There are various reasons that make customers suddenly leave the payment page. A payment gateway that has a deep understanding of these reasons will ensure to plug in those gaps.

Any of the following can make your customers abandon their carts:

  • Not enough payment modes
  • Long checkout process
  • Manual entry of card details

The advantage with Paytm Payment Gateway

Paytm Payment Gateway solves all the above problems in a seamless way. In addition to all the obvious payment modes like debit and credit cards, net banking, and UPI, you can offer your customers to pay via Paytm Wallet and avail credit via Paytm Postpaid, our in-house BNPL payment option.

You can customise the checkout process according to your liking. Buyers don’t have to fill out long sign-up forms at the checkout page if you don’t want them to.

Since Paytm Payment Gateway can tokenise sensitive information of customers’ debit and credit cards, your customers can save their card details as per the latest RBI norms. This allows them to pay for their purchases without having to enter card details every time they shop from your portal.

Overall, Paytm Payment Gateway guarantees an enhanced customer experience, which will result in more and more customers completing their purchases.

  1. Secure transactions

A top payment gateway will always have your back when it comes to the safety of your customers’ card details and their transactions. Processing every transaction with high security is the top most priority of a payment gateway. Working with a payment gateway that is the best in the industry means that you will not be in an embarrassing situation where you have to explain why your customers’ data were leaked.

The advantage with Paytm Payment Gateway

Integrating Paytm Payment Gateway with your online portal means you get a totally secure payment system. We are compliant with PCI-DSS rules, which is a globally recognized standard for payment security.

Our latest anti-fraud technology, which is updated regularly, ensures hackers don’t get their hands on any customer data. Since we tokenise users’ card details their information is safe and can’t be hacked.

As an added security layer, our SDK scans user devices for the presence of dangerous apps. If any such app is found, we warn the users and ask them to uninstall these apps to continue with their payment.

  1. Better cash flow

One of the strongest reasons to work with a top payment gateway in India is to have a steady stream of cash flow. A top payment gateway in India will settle your payments as soon as possible.

As your payment gateway starts settling money on time, you have the freedom to start investing it back in your business for growth purposes. You don’t have to rely on short-term loans and can make better growth projections. All this is possible if you work with a top payment gateway and don’t settle for an average one.

Interesting Read: How To Activate Paytm Business Account For Your Online Store?

The advantage with Paytm Payment Gateway

Paytm Payment Gateway settles payments in T+1 business days. It simply means that you get money in your bank account on the next business day from the date of the transaction.

One-day settlement is the best in the industry as most of the payment gateways take three to five days to process settlements. If you are looking for same-day settlements, you can get in touch with us and we will get it done for you.

  1. Collect payments without a website

As an online company, you can run an online business without having a website and collect payments digitally. A good payment gateway will be cognizant of the needs of a business that operates without a website. By partnering with a top payment gateway, you can seamlessly collect payment via all the payment modes and other features even if you don’t own a website.

Over the time when your business has grown, you can launch your website and the payment gateway will easily integrate with it.

The advantage with Paytm Payment Gateway

In case you don’t have a website and want to collect payments online, Paytm Payment Gateway has got you covered.

Paytm Payment Links is just the tool you need to accept money without a website. You can create a Paytm Payment Link from our dashboard and share it with your customers via email or message. Paytm Payment Links are really simple to use as your customers only have to enter their bank/card details and make the payment.

Here’s why Paytm Payment Links are the best way to collect money without a website:

  • Supports all payment modes
  • Accept partial payment
  • Different bank offers enabled
  • Easy for collecting recurring payments
  • Automatic payment reminders
  1. Automated payments

A top payment gateway by your side means there are no restrictions related to collecting money from customers. If your business model depends on customers subscribing to your products or services, a reputed payment gateway will enable the automatic collection of money from your subscribers.

The role of a payment gateway becomes all the more important when you start customising subscriptions for customers based on their choice. A payment gateway with a sophisticated subscription payment system can handle and track every subscriber’s payment.

This is quite a difficult task and only a top payment gateway can assure you that subscribers’ money gets auto-debited on time like clockwork.

The advantage with Paytm Payment Gateway

Paytm Subscription is built for this exact purpose. Regardless of what kind of subscription model you run, Paytm Subscription can do the job without fail.

Your users simply need to give their one-time authorisation on the checkout page to auto-debit their account for a certain amount. Once that is done, they don’t have to worry about paying every month for their subscription. Paytm Subscriptions will take care of the payment collection from subscribers and settle the amount in your account in T+1 working days.

You can also create Subscription Links to manually collect payment for recurring purchases from your customers.

Conclusion

As an online business, you should consider working with the top payment gateway in India instead of a second-best. Payment gateways are for the long run and it’s a good idea to partner with the best in the market.

 

Switch To Paytm Payment Gateway Today

You May Also Like
Accept Payments at Zero fees
Read More

Accept Payments Online at Zero Fees with Paytm

While there is no extra cost associated with making online payments on the consumer side, businesses need to pay certain charges. That’s the reason why they look for ways to accept payments at a 0% fee.