Why is it an necessity for an SMB or a start-up to choose technologically superior payment gateway
If youre in the process of setting up an online store, at some point youll need to enable payments. Accepting payments from your customers isnt necessarily as easy as flipping a switch and watching the money flow in but it doesnt have to be complicated either.
As a small online business, you must work extra hard to keep up with the big eCommerce companies, as well as fight off with other smaller competitors.
Being a small fish in a big pond makes it harder to get traffic to your store. But more than that, it also makes it harder to win the trust of visitors to your store.
This is where your payment gateway steps in to reassure your customers. A right payment gateway builds users trust with your website and makes it easier for them to pay for your products. However, choosing the right payment solution may take a little time, but being an SMB it is essential for you to select technologically forward payment gateway for the success of your business.
Processing with a Payment gateway provider may incur you various fees such as Setup Fee, Annual Maintenance Fee, TDR, and extra cost associated to processing chargebacks, payments from international cards, multi-currency cards etc. Every merchant would want fee to be bare minimum, and consider it the most important criteria for selecting payment gateway but believe that it should not be the most important.
The most important is to evaluate the core payment stack the gateway is built upon. How scalable the platform is. Will it be able to cater to your needs even when your business has grown tremendously? How speedy Payment Gateway provider innovates and comes up with breakthrough features to keep up with emerging market trends
PayUbiz is one payment gateway which has superior technology stack, high scalability and known for doing rapid innovations in payments industry in India. It also offers easy to integrate web & mobile SDKs and provides a solution that enables your customers to have the best possible user experience, giving them every reason to come back in the future, no matter what device they check out on
It is one of the leading payment gateway aggregator used by more than 80 of top 100 e-commerce companies. To name a few, brands like Makemytrip, Yatra, Snapdeal, Jabong, BookMyShow, GoIbibo etc. use PayUbiz as their trusted payment processor.
Here are some of the features of PayUbiz that makes it your right payment processing partner:
#1 OneTap Payments
The launch of one tap payment by PayUbiz is a technological breakthrough which has sent ripples across the booming online payments industry. Using this feature consumers can make payments on Mobile with just One Tap! And its done! The first of its kind, patent pending innovation makes sure users do not have to go through hassles of multiple clicks while making payments on mobile. The PCI-DSS complaint one tap payment is a combination of 4 different tech innovations that together provide a seamless online payments experience to the users.
Store Card Vault: PayUbiz offers white labelled card vault where in user can securely save their card credentials and do not have to enter it again on re-visit.
No CVV: This is the heart of creating seamless one tap payment solution that makes it possible to do away with entering the CVV.
Auto OTP read and submit: Furthermore the second factor authentication of OTP, gets auto read and submitted leading to the completion of a seamless one tap payment experience.
Magic Retry: the magic continues even when a transaction fails due to poor network and the magic retry feature picks up the transaction from the point where it last dropped.
#2 Security Setup
Even though PayUbiz broke technological barriers by launching no CVV feature, it ensures that all the payment processing is within the RBI guidelines for payment and settlement process. It is PCI-DSS compliant and keeps all the information perfectly safe.
#3 PayUbiz Increases Conversion Rates
PayUbiz proprietary algorithm automatically detects the health of different bank acquiring gateways and routes the transaction to the gateway possessing best health. This helps provide upto 12% increased conversion rates. Moreover, it deeply integrates with banks particularly on net banking side to know status of dropped transactions.
#4 Multiple Payment Options
Integrating PayUbiz to an ecommerce website opens up options to receive payments from multiple channels All debits cards including Maestro All credit cards such as MasterCard / Visa / Amex Credit / Diners cards More than 50 net banking facilities EMI facilities from 8 leading issuers like Axis, ICICI, SBI HDFC and Citibank to name a few Supports IVR payments, mWallets, Cash cards, International Cards, Multi-currency support, SMS & e-mail invoicing
#5 Advanced Analytics
PayUbiz Provides advanced analytics merchant dashboard where it keeps track of success rates, payment gateway performances etc. Merchant can get insights on conversion rates through dedicated reports and can also play around with funnels to measure success rates on different parameters such as Issuer, PG, Card type and many others.
So, PayUbiz is the right payment gateway not only for large enterprises but also for SMB or startup companies who are looking to venture in to a model where they need a system to collect payments online. If you are in to serious business and expecting to grow volume in future, choosing PayUbiz at the early stage would be the sanest thing to do.