Tips To Choose The Best Payment Gateway For Startups In India

By Author: Prashant Bhurke
Total Articles: 15
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When looking for a payment gateway, the Start-Ups often prefer the cheap payment gateways in India that cost less. But these services may cause loss of both revenues and customers in the long run. A new and startup business which is looking to gain ground in the fast expanding eCommerce business segment should opt for a robust and feature rich payment gateway, which can contribute towards business expansion and greater revenues and sales. Here are some tips for a startup business to choose the best payment gateway for payment collection and other business purposes.

The Start Up Business Specific Plans

The leading payment gateway services in India offers you well-planned services so that you can choose the most affordable and best payment integration option for your business. For instance, the EBS payment gateway offers its services in the form of 4 business-specific and customized plans, including the Economy, Starter, Standard, and Premium plan. Out of these, the Starter plan suits the needs and aspirations of the startup businesses ...
... better. The plan offers lower credit card, net banking, and m-wallet transaction charges. As a startup will not get higher sales from the very start of the business, the plan’s charges suit the new businesses.

Payment Collection Through Various Modes

The best payment gateway should be able to receive payments through all kinds of payment modes. Customers in India today pay for the online products and services through a range of modes. These include credit card, debit cards, net banking, EMI, digital wallets, IVRS, international cards, cash cards, and others. A payment gateway should be able to process payments through all these modes so that a new and startup business can enjoy the best of revenues and sales from the very onset of the business.

Security

Anchor A PCI: DSS certified payment gateway adds to the credibility and reputation of the online business, and helps a startup gain more recognition and reputation on the web. The secure payments gateways (for instance EBS) are also ISO audited and conform to iso 27001:2013 norms, use the latest SSL (Secure Socket Layer) encryption technology, and have a number of proprietary software that brings to an online business best-in-class security towards processing all kinds of online transactions.

Features for Greater Customer Retention

An online payment gateway should have integrated features so that it can provide the best transaction success rates, which contribute towards increasing the customer retention rates. For example, the EBS payment gateway has features including “Smart Routing”, a dynamic algorithm that transfers a transaction to the best performing payment gateway. The best amongst all payment gateways in India also has the “Auto Pay” and the “Turbo Checkout” features that provide for an easy and convenient shopping experience and automatically input the transaction related information, so that the customers do not have to fill in the same information repeatedly. Each of these features contributes towards the enhancement of payment success and customer retention rates by 12%. A startup should have these features in its payment gateway so that it can generate brand loyalty, which is quite important for a new business.

Mobile SDKs

Any new or old business cannot ignore the importance of the mobile eCommerce. The segment is fast expanding. Mobile business Apps today form the bulk of sales, as more and more Indian and International customers prefer to shop online through their mobile devices (India has more than 240 million smartphone users!). Your payment gateway service should offer you the Software Development Kits or SDKs for the Android and Apple applications so that you can start to sell to customers through your mobile application as well.